Empowered Funds LLC Acquires Shares of 182,161 Teekay Tankers Ltd. (NYSE:TNK)

Empowered Funds LLC bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 182,161 shares of the shipping company’s stock, valued at approximately $7,248,000. Empowered Funds LLC owned about 0.53% of Teekay Tankers as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bleakley Financial Group LLC increased its holdings in shares of Teekay Tankers by 161.6% in the 4th quarter. Bleakley Financial Group LLC now owns 16,982 shares of the shipping company’s stock worth $676,000 after purchasing an additional 10,490 shares in the last quarter. Choreo LLC bought a new stake in Teekay Tankers during the fourth quarter valued at approximately $294,000. R Squared Ltd purchased a new stake in shares of Teekay Tankers in the 4th quarter worth $41,000. Linden Thomas Advisory Services LLC raised its stake in shares of Teekay Tankers by 21.7% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,398 shares of the shipping company’s stock worth $493,000 after buying an additional 2,211 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Teekay Tankers by 41.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,712 shares of the shipping company’s stock valued at $307,000 after purchasing an additional 2,248 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TNK shares. Jefferies Financial Group decreased 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. Bank of America reaffirmed an “underperform” rating and set a $46.00 target price (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Teekay Tankers has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock opened at $42.20 on Tuesday. The company has a 50-day simple moving average of $40.95 and a two-hundred day simple moving average of $48.85. Teekay Tankers Ltd. has a one year low of $36.04 and a one year high of $74.20. The company has a market capitalization of $1.45 billion, a PE ratio of 3.46, a P/E/G ratio of 1.98 and a beta of -0.43.

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.