Sei Investments Co. Has $1.68 Million Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Sei Investments Co. lowered its stake in Teekay Tankers Ltd. (NYSE:TNK) by 48.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 42,164 shares of the shipping company’s stock after selling 38,885 shares during the period. Sei Investments Co. owned approximately 0.12% of Teekay Tankers worth $1,678,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TNK. Royce & Associates LP acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $8,980,000. Empowered Funds LLC acquired a new position in Teekay Tankers in the 4th quarter valued at $7,248,000. Principal Financial Group Inc. increased its position in Teekay Tankers by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock worth $52,815,000 after buying an additional 80,217 shares during the period. American Century Companies Inc. boosted its position in shares of Teekay Tankers by 7.8% in the fourth quarter. American Century Companies Inc. now owns 914,657 shares of the shipping company’s stock valued at $36,394,000 after acquiring an additional 66,332 shares during the period. Finally, Denali Advisors LLC acquired a new position in shares of Teekay Tankers in the fourth quarter valued at about $2,204,000. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Stock Down 6.0 %

Shares of Teekay Tankers stock opened at $34.46 on Friday. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $74.20. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 3.04 and a beta of -0.16. The firm’s 50-day moving average price is $39.48 and its two-hundred day moving average price is $44.07.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.01. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The business had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. On average, sell-side analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.90%. Teekay Tankers’s payout ratio is 8.83%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Teekay Tankers has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

About Teekay Tankers

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.