Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 30.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,757 shares of the shipping company’s stock after selling 20,117 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.14% of Teekay Tankers worth $3,217,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TNK. Tucker Asset Management LLC purchased a new position in Teekay Tankers in the fourth quarter valued at $38,000. Fifth Third Bancorp raised its holdings in 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 period. EntryPoint Capital LLC boosted 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 worth $51,000 after purchasing an additional 378 shares in the last quarter. Blue Trust Inc. boosted its position in Teekay Tankers by 14.7% during the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock worth $92,000 after purchasing an additional 172 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in Teekay Tankers by 82.6% in the fourth quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock valued at $138,000 after purchasing an additional 1,248 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Price Performance

Shares of Teekay Tankers stock opened at $55.77 on Friday. Teekay Tankers Ltd. has a 1-year low of $37.20 and a 1-year high of $74.20. The stock has a market cap of $1.91 billion, a P/E ratio of 3.94, a P/E/G ratio of 1.41 and a beta of -0.32. The stock’s 50 day simple moving average is $57.84 and its 200-day simple moving average is $61.47.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, August 1st. The shipping company reported $3.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.13). Teekay Tankers had a net margin of 36.04% and a return on equity of 26.34%. The company had revenue of $296.60 million during the quarter, compared to analysts’ expectations of $192.19 million. During the same quarter in the previous year, the company earned $4.38 earnings per share. The firm’s quarterly revenue was down 20.0% compared to the same quarter last year. As a group, research analysts expect that Teekay Tankers Ltd. will post 13.33 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, August 12th. Teekay Tankers’s dividend payout ratio is presently 7.07%.

Analyst Upgrades and Downgrades

TNK has been the topic of several recent analyst reports. Bank of America decreased their price objective on shares of Teekay Tankers from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Evercore ISI lifted their price objective on Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. StockNews.com cut Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $76.00 price objective on shares of Teekay Tankers in a report on Thursday, August 1st.

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.