Quadrature Capital Ltd Sells 7,003 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Quadrature Capital Ltd reduced its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 41.6% in the 3rd quarter, Holdings Channel reports. The firm owned 9,816 shares of the shipping company’s stock after selling 7,003 shares during the period. Quadrature Capital Ltd’s holdings in Teekay Tankers were worth $572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Teekay Tankers by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 187,115 shares of the shipping company’s stock valued at $10,929,000 after purchasing an additional 15,537 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Teekay Tankers by 16.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,833 shares of the shipping company’s stock valued at $400,000 after buying an additional 964 shares in the last quarter. Blue Trust Inc. grew its position 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 last quarter. Nisa Investment Advisors LLC raised its stake in Teekay Tankers by 11,234.2% during the second quarter. Nisa Investment Advisors LLC now owns 4,307 shares of the shipping company’s stock worth $296,000 after acquiring an additional 4,269 shares in the last quarter. Finally, Fifth Third Bancorp lifted 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 worth $43,000 after acquiring an additional 456 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TNK has been the topic of several research reports. Bank of America reaffirmed an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. StockNews.com assumed coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They set a “hold” rating for the company. Jefferies Financial Group cut their price objective on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. One equities research 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, Teekay Tankers currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Teekay Tankers Stock Performance

Shares of NYSE TNK opened at $38.77 on Monday. The stock has a market cap of $1.33 billion, a P/E ratio of 3.18, a price-to-earnings-growth ratio of 1.20 and a beta of -0.39. The firm has a 50 day moving average price of $48.92 and a two-hundred day moving average price of $57.59. Teekay Tankers Ltd. has a 52-week low of $38.48 and a 52-week high of $74.20.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio is currently 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.