Charles Schwab Investment Management Inc. Cuts Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Charles Schwab Investment Management Inc. lessened its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 22.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,080 shares of the shipping company’s stock after selling 35,574 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Teekay Tankers were worth $4,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its stake in shares of Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock valued at $168,000 after purchasing an additional 286 shares in the last quarter. R Squared Ltd purchased a new position in Teekay Tankers in the fourth quarter valued at approximately $41,000. Linden Thomas Advisory Services LLC raised its holdings in Teekay Tankers by 21.7% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company’s stock valued at $493,000 after buying an additional 2,211 shares during the period. Exchange Traded Concepts LLC lifted its position in Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company’s stock valued at $307,000 after buying an additional 2,248 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in Teekay Tankers during the third quarter worth approximately $132,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $38.36 on Wednesday. Teekay Tankers Ltd. has a one year low of $35.23 and a one year high of $74.20. The stock’s 50 day moving average price is $40.30 and its 200 day moving average price is $44.96. The firm has a market capitalization of $1.32 billion, a PE ratio of 3.39 and a beta of -0.44.

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

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.61%. Teekay Tankers’s dividend payout ratio is presently 8.83%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Teekay Tankers presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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.