Raymond James & Associates lifted its stake in shares of Teekay Tankers Ltd. (NYSE:TNK – Free Report) by 18.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,005 shares of the shipping company’s stock after acquiring an additional 2,374 shares during the period. Raymond James & Associates’ holdings in Teekay Tankers were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp acquired a new stake in shares of Teekay Tankers during the 1st quarter worth about $42,000. FMR LLC lifted its stake in Teekay Tankers by 41.9% during the first quarter. FMR LLC now owns 1,019 shares of the shipping company’s stock worth $44,000 after purchasing an additional 301 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Teekay Tankers in the fourth quarter valued at approximately $46,000. Citigroup Inc. lifted its stake in Teekay Tankers by 157.0% in the first quarter. Citigroup Inc. now owns 1,537 shares of the shipping company’s stock valued at $66,000 after buying an additional 939 shares during the last quarter. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of Teekay Tankers during the third quarter worth $152,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.
Teekay Tankers Trading Down 1.5 %
Shares of TNK stock opened at $52.32 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.18 and a current ratio of 3.58. Teekay Tankers Ltd. has a 1 year low of $26.40 and a 1 year high of $54.11. The stock has a fifty day moving average of $42.56 and a two-hundred day moving average of $40.72. The firm has a market capitalization of $1.78 billion, a PE ratio of 3.37, a price-to-earnings-growth ratio of 1.22 and a beta of -0.07.
Teekay Tankers Announces Dividend
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on TNK shares. Jefferies Financial Group raised their price target on Teekay Tankers from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. StockNews.com downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 11th.
About Teekay Tankers
Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.
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