JPMorgan Chase & Co. Has $15.21 Million Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

JPMorgan Chase & Co. lowered its position in Teekay Tankers Ltd. (NYSE:TNK) by 24.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 261,192 shares of the shipping company’s stock after selling 85,771 shares during the quarter. JPMorgan Chase & Co. owned 0.76% of Teekay Tankers worth $15,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TNK. Quarry LP acquired a new stake in Teekay Tankers during the 2nd quarter valued at approximately $43,000. CWM LLC lifted its stake in Teekay Tankers by 96.8% in the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after buying an additional 482 shares during the period. Millburn Ridgefield Corp bought a new position in shares of Teekay Tankers during the 3rd quarter worth approximately $132,000. US Bancorp DE acquired a new stake in shares of Teekay Tankers during the 3rd quarter worth approximately $231,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Teekay Tankers during the 2nd quarter worth approximately $237,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

TNK opened at $45.49 on Friday. Teekay Tankers Ltd. has a fifty-two week low of $36.04 and a fifty-two week high of $74.20. The firm has a market capitalization of $1.56 billion, a P/E ratio of 3.73, a PEG ratio of 1.13 and a beta of -0.40. The company’s 50-day moving average is $41.23 and its 200 day moving average is $52.65.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. Teekay Tankers’s dividend payout ratio is currently 8.21%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TNK. Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. Bank of America reiterated an “underperform” rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. StockNews.com initiated coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group dropped their price target on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

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.