Choreo LLC Purchases Shares of 7,556 Teekay Tankers Ltd. (NYSE:TNK)

Choreo LLC purchased a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,556 shares of the shipping company’s stock, valued at approximately $294,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TNK. R Squared Ltd acquired a new position in Teekay Tankers during the fourth quarter valued at approximately $41,000. CWM LLC lifted its position in Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after buying an additional 482 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in Teekay Tankers during the third quarter valued at approximately $132,000. US Bancorp DE acquired a new position in Teekay Tankers during the third quarter valued at approximately $231,000. Finally, ClearAlpha Technologies LP acquired a new position in Teekay Tankers during the third quarter valued at approximately $255,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Trading Down 2.7 %

NYSE TNK opened at $40.86 on Friday. The company’s fifty day simple moving average is $41.02 and its 200-day simple moving average is $48.61. Teekay Tankers Ltd. has a 52 week low of $36.04 and a 52 week high of $74.20. The stock has a market cap of $1.40 billion, a P/E ratio of 3.35, a PEG ratio of 1.98 and a beta of -0.43.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America reaffirmed an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Jefferies Financial Group reduced their target price on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

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.