Castellan Group Has $641,000 Stake in Teekay Tankers Ltd. (NYSE:TNK)

Castellan Group cut its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 5.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,005 shares of the shipping company’s stock after selling 600 shares during the period. Castellan Group’s holdings in Teekay Tankers were worth $641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of Teekay Tankers by 41.3% during the second quarter. Acadian Asset Management LLC now owns 935,652 shares of the shipping company’s stock worth $64,361,000 after purchasing an additional 273,530 shares during the period. FMR LLC increased its stake in shares of Teekay Tankers by 9.2% in the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock valued at $86,249,000 after buying an additional 124,659 shares during the period. Renaissance Technologies LLC raised its position in shares of 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 acquiring an additional 123,500 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Teekay Tankers by 15.0% in the second quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company’s stock worth $49,495,000 after acquiring an additional 93,788 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after acquiring an additional 80,217 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Analyst Ratings Changes

TNK has been the topic of a number of analyst reports. Fearnley Fonds raised shares of Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. Bank of America reissued an “underperform” rating and issued a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. StockNews.com began coverage on shares of Teekay Tankers in a research report on Thursday, October 10th. They set a “hold” rating for the company. Finally, Jefferies Financial Group cut their target price on shares of 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 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Teekay Tankers Trading Down 0.9 %

Teekay Tankers stock opened at $38.12 on Friday. The firm’s fifty day moving average price is $47.26 and its two-hundred day moving average price is $56.87. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 3.13, a price-to-earnings-growth ratio of 1.14 and a beta of -0.39. Teekay Tankers Ltd. has a 1-year low of $37.58 and a 1-year high of $74.20.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio (DPR) is presently 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.