Massachusetts Financial Services Co. MA Sells 1,105 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Massachusetts Financial Services Co. MA decreased its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 2.4% during the third quarter, Holdings Channel reports. The fund owned 45,652 shares of the shipping company’s stock after selling 1,105 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Teekay Tankers were worth $2,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Teekay Tankers by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,059,543 shares of the shipping company’s stock worth $141,723,000 after acquiring an additional 13,330 shares during the period. Acadian Asset Management LLC grew its stake in shares of Teekay Tankers by 41.3% in the 2nd quarter. Acadian Asset Management LLC now owns 935,652 shares of the shipping company’s stock worth $64,361,000 after buying an additional 273,530 shares during the last quarter. Principal Financial Group Inc. grew its stake 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 buying an additional 80,217 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Teekay Tankers by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company’s stock worth $49,495,000 after buying an additional 93,788 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Teekay Tankers by 20.9% during the 2nd quarter. Renaissance Technologies LLC now owns 714,612 shares of the shipping company’s stock valued at $49,172,000 after purchasing an additional 123,500 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TNK. Bank of America reiterated an “underperform” rating and set a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. StockNews.com began coverage on Teekay Tankers in a research note on Thursday, October 10th. They set a “hold” rating on the stock. Finally, Jefferies Financial Group cut their target price on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Teekay Tankers currently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Teekay Tankers Price Performance

NYSE TNK opened at $41.10 on Wednesday. The business’s fifty day moving average price is $51.89 and its 200-day moving average price is $59.51. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 3.37, a PEG ratio of 1.24 and a beta of -0.32. Teekay Tankers Ltd. has a 1-year low of $40.71 and a 1-year high of $74.20.

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. Teekay Tankers’s payout ratio is 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.