State Street Corp Sells 5,500 Shares of Teekay Tankers Ltd. (NYSE:TNK)

State Street Corp lessened its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 421,396 shares of the shipping company’s stock after selling 5,500 shares during the quarter. State Street Corp’s holdings in Teekay Tankers were worth $24,546,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Acadian Asset Management LLC lifted its position in shares of Teekay Tankers by 41.3% in the second 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. FMR LLC lifted its holdings in Teekay Tankers by 9.2% in the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock worth $86,249,000 after purchasing an additional 124,659 shares during the last quarter. Renaissance Technologies LLC boosted its position in Teekay Tankers by 20.9% during the second quarter. Renaissance Technologies LLC now owns 714,612 shares of the shipping company’s stock worth $49,172,000 after purchasing an additional 123,500 shares during the period. American Century Companies Inc. boosted its position in Teekay Tankers by 15.0% during the second quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company’s stock worth $49,495,000 after purchasing an additional 93,788 shares during the period. Finally, Principal Financial Group Inc. grew 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 during the last quarter. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Price Performance

Shares of TNK stock opened at $37.51 on Monday. Teekay Tankers Ltd. has a one year low of $36.04 and a one year high of $74.20. The stock has a fifty day moving average price of $44.55 and a 200 day moving average price of $55.31. The stock has a market cap of $1.29 billion, a P/E ratio of 3.08, a price-to-earnings-growth ratio of 1.13 and a beta of -0.39.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.67%. Teekay Tankers’s payout ratio is currently 8.21%.

Analyst Upgrades and Downgrades

TNK has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Fearnley Fonds upgraded shares of Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com started coverage on Teekay Tankers in a research note on Thursday, October 10th. They issued a “hold” rating on the stock. Finally, Bank of America reissued an “underperform” rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.