Barclays PLC Boosts Stake in Teekay Tankers Ltd. (NYSE:TNK)

Barclays PLC lifted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 273.7% during the third quarter, Holdings Channel reports. The fund owned 31,472 shares of the shipping company’s stock after purchasing an additional 23,051 shares during the quarter. Barclays PLC’s holdings in Teekay Tankers were worth $1,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TNK. Sanctuary Advisors LLC purchased a new stake in shares of Teekay Tankers in the second quarter valued at $1,775,000. Foundry Partners LLC grew its holdings in Teekay Tankers by 89.3% in the 3rd quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company’s stock valued at $6,156,000 after buying an additional 49,853 shares during the period. Shariaportfolio Inc. acquired a new position in shares of Teekay Tankers during the 3rd quarter valued at about $3,498,000. Bank of New York Mellon Corp lifted its holdings in shares of Teekay Tankers by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,856 shares of the shipping company’s stock worth $5,633,000 after acquiring an additional 11,535 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Teekay Tankers by 261.7% in the third quarter. Victory Capital Management Inc. now owns 45,585 shares of the shipping company’s stock worth $2,655,000 after acquiring an additional 32,983 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analysts Set New Price Targets

TNK has been the subject of several research reports. Bank of America reissued an “underperform” rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. StockNews.com began coverage on Teekay Tankers in a report on Thursday, October 10th. They set a “hold” rating for the company. 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. Finally, Fearnley Fonds upgraded 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 assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Teekay Tankers Stock Performance

TNK opened at $38.92 on Friday. The company has a market capitalization of $1.33 billion, a P/E ratio of 3.20, a PEG ratio of 1.13 and a beta of -0.39. The company has a 50-day moving average of $42.93 and a 200-day moving average of $54.32. Teekay Tankers Ltd. has a 1-year low of $36.04 and a 1-year high of $74.20.

Teekay Tankers Dividend Announcement

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