Quantbot Technologies LP Invests $562,000 in Teekay Tankers Ltd. (NYSE:TNK)

Quantbot Technologies LP bought a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the third quarter, HoldingsChannel reports. The fund bought 9,650 shares of the shipping company’s stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in shares of Teekay Tankers in the 2nd quarter valued at $1,775,000. Foundry Partners LLC lifted its position in Teekay Tankers by 89.3% during the third quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company’s stock valued at $6,156,000 after purchasing an additional 49,853 shares during the period. Shariaportfolio Inc. purchased a new stake in Teekay Tankers in the third quarter valued at $3,498,000. Bank of New York Mellon Corp grew its position in Teekay Tankers by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,856 shares of the shipping company’s stock worth $5,633,000 after purchasing an additional 11,535 shares during the period. Finally, Unison Advisors LLC purchased a new position in shares of Teekay Tankers during the 3rd quarter valued at about $740,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Trading Down 0.9 %

Shares of TNK opened at $39.88 on Tuesday. Teekay Tankers Ltd. has a 12 month low of $39.22 and a 12 month high of $74.20. The firm has a market cap of $1.37 billion, a P/E ratio of 3.30, a PEG ratio of 1.20 and a beta of -0.32. The stock’s 50 day moving average is $50.66 and its two-hundred day moving average is $58.70.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.51%. Teekay Tankers’s dividend payout ratio (DPR) is 8.21%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America reaffirmed an “underperform” rating and set a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. StockNews.com began coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They set a “hold” rating on the stock. Fearnley Fonds upgraded shares of Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group dropped their price target 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 investment 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.67.

About Teekay Tankers

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.