Teekay Tankers Ltd. (NYSE:TNK) Holdings Lowered by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 79.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,674 shares of the shipping company’s stock after selling 207,915 shares during the quarter. SG Americas Securities LLC owned about 0.16% of Teekay Tankers worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its position in shares of Teekay Tankers by 9.2% during the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock worth $86,249,000 after buying an additional 124,659 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Teekay Tankers by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock worth $52,815,000 after purchasing an additional 80,217 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Teekay Tankers by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 317,987 shares of the shipping company’s stock worth $18,542,000 after purchasing an additional 2,403 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Teekay Tankers by 31.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock worth $17,867,000 after purchasing an additional 72,798 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of Teekay Tankers by 15.0% in the 3rd quarter. Systematic Financial Management LP now owns 180,780 shares of the shipping company’s stock worth $10,530,000 after purchasing an additional 23,589 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on TNK. Jefferies Financial Group dropped their target price on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Bank of America reiterated an “underperform” rating and issued a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Finally, StockNews.com began coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Teekay Tankers Stock Performance

Shares of NYSE:TNK opened at $40.11 on Monday. The company has a market cap of $1.38 billion, a PE ratio of 3.29, a price-to-earnings-growth ratio of 1.79 and a beta of -0.40. Teekay Tankers Ltd. has a 52 week low of $36.04 and a 52 week high of $74.20. The firm has a 50 day simple moving average of $40.89 and a 200 day simple moving average of $50.56.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.00 annualized dividend and a yield of 2.49%. Teekay Tankers’s dividend payout ratio is presently 8.21%.

Teekay Tankers 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.