Blue Trust Inc. Has $46,000 Stake in Teekay Tankers Ltd. (NYSE:TNK)

Blue Trust Inc. lowered its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 22.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,152 shares of the shipping company’s stock after selling 336 shares during the quarter. Blue Trust Inc.’s holdings in Teekay Tankers were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE bought a new position in shares of Teekay Tankers during the 3rd quarter worth about $231,000. Principal Financial Group Inc. boosted its holdings in Teekay Tankers by 9.7% during the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after purchasing an additional 80,217 shares in the last quarter. Summit Global Investments grew its stake in shares of Teekay Tankers by 14.8% in the 3rd quarter. Summit Global Investments now owns 24,927 shares of the shipping company’s stock valued at $1,452,000 after purchasing an additional 3,208 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Teekay Tankers in the 3rd quarter worth approximately $377,000. Finally, Versor Investments LP bought a new position in shares of Teekay Tankers during the 3rd quarter worth approximately $720,000. Institutional investors own 52.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TNK. 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. Jefferies Financial Group reissued a “buy” rating and set a $55.00 price target on shares of Teekay Tankers in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Teekay Tankers Price Performance

NYSE TNK opened at $39.77 on Thursday. The stock’s 50 day simple moving average is $41.40 and its 200 day simple moving average is $47.36. Teekay Tankers Ltd. has a one year low of $36.04 and a one year high of $74.20. The firm has a market cap of $1.36 billion, a PE ratio of 3.51 and a beta of -0.43.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The company had revenue of $163.42 million for the quarter, compared to analysts’ expectations of $158.26 million. As a group, equities analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, March 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, March 3rd. Teekay Tankers’s payout ratio is presently 8.83%.

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.