Sumitomo Mitsui Trust Holdings Inc. Reduces Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,753 shares of the shipping company’s stock after selling 500 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Teekay Tankers were worth $737,000 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. CWM LLC grew its holdings in shares of Teekay Tankers by 10,816.7% during the third quarter. CWM LLC now owns 655 shares of the shipping company’s stock worth $27,000 after buying an additional 649 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Teekay Tankers during the third quarter worth about $35,000. PNC Financial Services Group Inc. grew its holdings in shares of Teekay Tankers by 666.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company’s stock worth $62,000 after buying an additional 1,300 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Teekay Tankers by 175.0% during the third quarter. Assetmark Inc. now owns 1,510 shares of the shipping company’s stock worth $63,000 after buying an additional 961 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Teekay Tankers during the third quarter worth about $97,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TNK shares. Evercore ISI lowered their price target on shares of Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Jefferies Financial Group restated a “buy” rating and issued a $70.00 target price on shares of Teekay Tankers in a report on Thursday, February 22nd. Bank of America upgraded shares of Teekay Tankers from a “neutral” rating to a “buy” rating and boosted their target price for the company from $56.00 to $72.00 in a report on Friday, January 19th. Finally, StockNews.com upgraded shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, March 21st.

Teekay Tankers Price Performance

Teekay Tankers stock opened at $58.13 on Friday. Teekay Tankers Ltd. has a 1 year low of $35.00 and a 1 year high of $64.42. The firm has a 50 day moving average price of $56.48 and a 200 day moving average price of $53.52. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 3.91, a PEG ratio of 1.32 and a beta of -0.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings results on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.81). The business had revenue of $194.46 million for the quarter, compared to analyst estimates of $219.93 million. Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. Sell-side analysts predict that Teekay Tankers Ltd. will post 14.28 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 15th. Shareholders of record on Monday, March 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. Teekay Tankers’s dividend payout ratio (DPR) is 6.73%.

Teekay Tankers Company 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.