Teekay Tankers Ltd. (NYSE:TNK) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 25.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,361 shares of the shipping company’s stock after acquiring an additional 19,895 shares during the period. The Manufacturers Life Insurance Company’s holdings in Teekay Tankers were worth $5,730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fifth Third Bancorp raised its stake in shares of Teekay Tankers by 266.7% during the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock valued at $43,000 after buying an additional 456 shares during the last quarter. Quarry LP acquired a new stake in Teekay Tankers during the second quarter worth about $43,000. CWM LLC raised 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 acquiring an additional 482 shares in the last quarter. Blue Trust Inc. lifted its holdings in Teekay Tankers by 14.7% in the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock valued at $92,000 after acquiring an additional 172 shares during the period. Finally, US Bancorp DE purchased a new stake in Teekay Tankers in the 3rd quarter worth approximately $231,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $39.81 on Friday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 3.32, a price-to-earnings-growth ratio of 1.24 and a beta of -0.39. The company’s 50 day simple moving average is $49.70 and its 200-day simple moving average is $58.14. Teekay Tankers Ltd. has a 1 year low of $39.22 and a 1 year high of $74.20.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders 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 dividend on an annualized basis and a yield of 2.51%. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.21%.

Wall Street Analysts Forecast Growth

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

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.