Linden Thomas Advisory Services LLC Increases Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Linden Thomas Advisory Services LLC boosted its stake in Teekay Tankers Ltd. (NYSE:TNK) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,398 shares of the shipping company’s stock after purchasing an additional 2,211 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Teekay Tankers were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP purchased a new stake in Teekay Tankers in the second quarter valued at approximately $43,000. CWM LLC raised its stake in Teekay Tankers by 96.8% in the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 482 shares in the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Teekay Tankers during the third quarter worth approximately $132,000. US Bancorp DE purchased a new position in shares of Teekay Tankers during the third quarter worth approximately $231,000. Finally, ClearAlpha Technologies LP purchased a new position in shares of Teekay Tankers during the third quarter worth approximately $255,000. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Stock Down 2.4 %

Shares of NYSE TNK opened at $40.11 on Monday. Teekay Tankers Ltd. has a 52 week low of $36.04 and a 52 week high of $74.20. The firm’s fifty day moving average is $40.89 and its 200 day moving average is $50.56. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 3.29, a PEG ratio of 1.79 and a beta of -0.40.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers’s payout ratio is 8.21%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group decreased their price target 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. Bank of America reissued an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Finally, StockNews.com assumed coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Teekay Tankers Company 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.