Y Intercept Hong Kong Ltd Sells 4,417 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 43.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,865 shares of the shipping company’s stock after selling 4,417 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Teekay Tankers were worth $342,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wexford Capital LP bought a new stake in shares of Teekay Tankers in the 3rd quarter valued at $835,000. Systematic Financial Management LP grew its holdings in Teekay Tankers by 15.0% in the third quarter. Systematic Financial Management LP now owns 180,780 shares of the shipping company’s stock worth $10,530,000 after purchasing an additional 23,589 shares during the period. Millburn Ridgefield Corp bought a new stake in Teekay Tankers in the third quarter valued at $132,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Teekay Tankers by 31.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock valued at $17,867,000 after purchasing an additional 72,798 shares during the period. Finally, ClearAlpha Technologies LP bought a new position in shares of Teekay Tankers during the 3rd quarter worth about $255,000. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Stock Up 1.7 %

Shares of Teekay Tankers stock opened at $37.82 on Wednesday. Teekay Tankers Ltd. has a 52 week low of $36.04 and a 52 week high of $74.20. The business has a 50 day moving average price of $45.84 and a 200-day moving average price of $55.91. The company has a market cap of $1.30 billion, a PE ratio of 3.11, a price-to-earnings-growth ratio of 1.13 and a beta of -0.39.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a $0.25 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. Teekay Tankers’s payout ratio is 8.21%.

Analysts Set New Price Targets

TNK has been the topic of a number of research reports. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. Bank of America restated an “underperform” rating and set a $46.00 price objective (down previously from $51.00) on shares of Teekay Tankers in a report on Wednesday, November 13th. Jefferies Financial Group cut their target price 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, StockNews.com assumed coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.67.

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.