12,363 Shares in Teekay Tankers Ltd. (NYSE:TNK) Bought by Versor Investments LP

Versor Investments LP bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 12,363 shares of the shipping company’s stock, valued at approximately $720,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fifth Third Bancorp grew its holdings in shares of Teekay Tankers by 266.7% in the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 456 shares in the last quarter. Quarry LP bought a new position in shares of Teekay Tankers in the second quarter valued at approximately $43,000. EntryPoint Capital LLC grew its holdings in shares of Teekay Tankers by 76.5% in the first quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 378 shares in the last quarter. CWM LLC grew its holdings in shares of Teekay Tankers by 96.8% in 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. Finally, Blue Trust Inc. lifted its stake 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 purchasing an additional 172 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TNK shares. Evercore ISI upped their price objective on Teekay Tankers from $84.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. Bank of America downgraded Teekay Tankers from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $57.00 to $51.00 in a research note on Friday, November 1st. StockNews.com began coverage on Teekay Tankers in a research note on Thursday, October 10th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $72.00 target price on shares of Teekay Tankers in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with 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 stock currently has an average rating of “Moderate Buy” and an average target price of $69.33.

Teekay Tankers Price Performance

Shares of TNK opened at $44.15 on Wednesday. Teekay Tankers Ltd. has a one year low of $43.63 and a one year high of $74.20. The company has a 50-day simple moving average of $53.93 and a two-hundred day simple moving average of $60.66. The firm has a market capitalization of $1.51 billion, a PE ratio of 3.62, a price-to-earnings-growth ratio of 1.31 and a beta of -0.32.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Teekay Tankers’s payout ratio is 8.21%.

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.