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

Foundry Partners LLC grew its position in shares of Teekay Tankers Ltd. (NYSE:TNK) 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.

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

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.