Shariaportfolio Inc. Takes $3.44 Million Position in Teekay Tankers Ltd. $TNK

Shariaportfolio Inc. purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 68,048 shares of the shipping company’s stock, valued at approximately $3,440,000. Teekay Tankers makes up about 1.3% of Shariaportfolio Inc.’s portfolio, making the stock its 12th biggest holding.

Several other institutional investors also recently bought and sold shares of TNK. American Century Companies Inc. boosted its stake in shares of Teekay Tankers by 7.5% during the second quarter. American Century Companies Inc. now owns 1,010,177 shares of the shipping company’s stock valued at $42,145,000 after purchasing an additional 70,578 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Teekay Tankers by 24.6% during the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock valued at $28,903,000 after purchasing an additional 136,990 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Teekay Tankers by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 361,609 shares of the shipping company’s stock worth $15,086,000 after acquiring an additional 14,052 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Teekay Tankers by 24.9% during the first quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock valued at $9,745,000 after purchasing an additional 50,815 shares during the last quarter. Finally, Systematic Financial Management LP boosted its holdings in Teekay Tankers by 1.7% in the second quarter. Systematic Financial Management LP now owns 214,014 shares of the shipping company’s stock worth $8,929,000 after acquiring an additional 3,669 shares in the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Price Performance

Teekay Tankers stock opened at $68.48 on Friday. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $70.09. The company’s 50-day moving average is $58.67 and its 200 day moving average is $54.89. The firm has a market capitalization of $2.36 billion, a P/E ratio of 7.61 and a beta of -0.27.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TNK shares. Evercore boosted their price objective on shares of Teekay Tankers from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a report on Monday, December 29th. Jefferies Financial Group increased their target price on Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $65.00.

About Teekay Tankers

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.