Versor Investments LP Purchases New Position in Teekay Tankers Ltd. (NYSE:TNK)

Versor Investments LP purchased a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) in the 3rd quarter, Holdings Channel reports. The fund purchased 12,363 shares of the shipping company’s stock, valued at approximately $720,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Teekay Tankers by 14.7% during the second 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 in the last quarter. Custom Index Systems LLC increased its position in shares of Teekay Tankers by 4.0% during the 3rd quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock valued at $329,000 after purchasing an additional 216 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Teekay Tankers by 5.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock worth $322,000 after purchasing an additional 277 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Teekay Tankers by 8.8% in the second quarter. Commonwealth Equity Services LLC now owns 4,013 shares of the shipping company’s stock worth $276,000 after buying an additional 323 shares during the last quarter. Finally, EntryPoint Capital LLC grew its position in Teekay Tankers by 76.5% during the first quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock valued at $51,000 after buying an additional 378 shares during the period. Institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $72.00 target price on shares of Teekay Tankers in a research report on Thursday, October 31st. Bank of America lowered shares of Teekay Tankers from a “buy” rating to a “neutral” rating and cut their target price for the company from $57.00 to $51.00 in a research report on Friday, November 1st. Evercore ISI boosted their target price on shares of Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com initiated coverage on shares of Teekay Tankers in a research report on Thursday, October 10th. They set a “hold” rating for the company. Finally, Fearnley Fonds upgraded shares of Teekay Tankers to a “strong-buy” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Teekay Tankers currently has a consensus rating of “Moderate Buy” and an average target price of $69.33.

Teekay Tankers Stock Down 1.5 %

Teekay Tankers stock opened at $44.15 on Wednesday. Teekay Tankers Ltd. has a 52-week low of $43.63 and a 52-week high of $74.20. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 3.62, a PEG ratio of 1.31 and a beta of -0.32. The firm’s fifty day moving average is $53.93 and its 200 day moving average is $60.66.

Teekay Tankers Dividend Announcement

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Tuesday, November 12th. Teekay Tankers’s dividend payout ratio is currently 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.