Geode Capital Management LLC Acquires 2,403 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Geode Capital Management LLC grew its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 317,987 shares of the shipping company’s stock after acquiring an additional 2,403 shares during the period. Geode Capital Management LLC’s holdings in Teekay Tankers were worth $18,542,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Teekay Tankers in the second quarter worth $43,000. CWM LLC boosted its stake in Teekay Tankers by 96.8% in the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after purchasing an additional 482 shares in the last quarter. Millburn Ridgefield Corp bought a new position in Teekay Tankers in the 3rd quarter worth about $132,000. US Bancorp DE purchased a new stake in Teekay Tankers during the 3rd quarter valued at about $231,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Teekay Tankers during the 2nd quarter valued at about $237,000. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Trading Down 0.5 %

Shares of TNK stock opened at $38.92 on Friday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 3.20, a P/E/G ratio of 1.13 and a beta of -0.39. The firm’s 50 day moving average is $42.93 and its 200 day moving average is $54.22. Teekay Tankers Ltd. has a 12-month low of $36.04 and a 12-month high of $74.20.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio is presently 8.21%.

Analyst Ratings Changes

Several research analysts have recently issued reports on TNK shares. StockNews.com assumed coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They issued a “hold” rating on the stock. Bank of America reaffirmed 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. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group decreased their price target on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has assigned 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, Teekay Tankers has an average 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.