Teekay Tankers Ltd. (NYSE:TNK) Shares Purchased by Foundry Partners LLC

Foundry Partners LLC grew its position in shares of Teekay Tankers Ltd. (NYSE:TNKFree Report) by 89.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,690 shares of the shipping company’s stock after purchasing an additional 49,853 shares during the period. Foundry Partners LLC’s holdings in Teekay Tankers were worth $6,156,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TNK. Fifth Third Bancorp increased its position in shares of Teekay Tankers by 266.7% in the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock worth $43,000 after purchasing an additional 456 shares during the last quarter. Quarry LP acquired a new stake in Teekay Tankers during the second quarter valued at approximately $43,000. EntryPoint Capital LLC lifted its holdings in Teekay Tankers by 76.5% during the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock worth $51,000 after buying an additional 378 shares during the last quarter. CWM LLC grew its position in shares of Teekay Tankers by 96.8% in the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after acquiring an additional 482 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Teekay Tankers by 14.7% in the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock valued at $92,000 after acquiring an additional 172 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Get Our Latest Stock Report on Teekay Tankers

Teekay Tankers Stock Down 1.0 %

Shares of NYSE TNK opened at $42.73 on Thursday. Teekay Tankers Ltd. has a 12 month low of $42.52 and a 12 month high of $74.20. The business’s 50 day moving average is $52.72 and its two-hundred day moving average is $60.00. The company has a market cap of $1.47 billion, a P/E ratio of 3.51, a P/E/G ratio of 1.28 and a beta of -0.32.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, November 12th. Teekay Tankers’s payout ratio is 8.21%.

Teekay Tankers Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding TNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teekay Tankers Ltd. (NYSE:TNKFree Report).

Institutional Ownership by Quarter for Teekay Tankers (NYSE:TNK)

Receive News & Ratings for Teekay Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Tankers and related companies with MarketBeat.com's FREE daily email newsletter.