Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 124,080 shares of the shipping company’s stock after selling 35,574 shares during the period. Charles Schwab Investment Management Inc. owned 0.36% of Teekay Tankers worth $4,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TNK. Steward Partners Investment Advisory LLC grew its position in shares of Teekay Tankers by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock valued at $168,000 after purchasing an additional 286 shares during the last quarter. R Squared Ltd purchased a new stake in Teekay Tankers in the 4th quarter valued at approximately $41,000. Linden Thomas Advisory Services LLC grew its holdings in Teekay Tankers by 21.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company’s stock valued at $493,000 after buying an additional 2,211 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company’s stock worth $307,000 after buying an additional 2,248 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in shares of Teekay Tankers in the third quarter worth $132,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Teekay Tankers presently has an average rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Stock Performance

Shares of TNK opened at $38.36 on Wednesday. Teekay Tankers Ltd. has a fifty-two week low of $35.23 and a fifty-two week high of $74.20. The company has a market capitalization of $1.32 billion, a PE ratio of 3.39 and a beta of -0.44. The stock has a fifty day moving average of $40.30 and a two-hundred day moving average of $44.96.

Teekay Tankers (NYSE:TNK) last released its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm had revenue of $163.42 million during the quarter, compared to analyst estimates of $158.26 million. As a group, equities research analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.61%. Teekay Tankers’s payout ratio is currently 8.83%.

Teekay Tankers Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.