Teekay Tankers Ltd. (NYSE:TNK) Position Reduced by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,753 shares of the shipping company’s stock after selling 500 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Teekay Tankers were worth $737,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Teekay Tankers by 10,816.7% in the 3rd quarter. CWM LLC now owns 655 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 649 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $35,000. PNC Financial Services Group Inc. increased its holdings in shares of Teekay Tankers by 666.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,495 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 1,300 shares during the period. Assetmark Inc. increased its holdings in shares of Teekay Tankers by 175.0% in the 3rd quarter. Assetmark Inc. now owns 1,510 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 961 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Teekay Tankers in the 3rd quarter valued at about $97,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Stock Up 2.7 %

Shares of TNK stock opened at $58.13 on Friday. The stock has a market cap of $1.98 billion, a P/E ratio of 3.91, a price-to-earnings-growth ratio of 1.32 and a beta of -0.28. Teekay Tankers Ltd. has a one year low of $35.00 and a one year high of $64.42. The stock has a fifty day moving average price of $56.48 and a 200 day moving average price of $53.52. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Thursday, February 22nd. The shipping company reported $2.87 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.81). The firm had revenue of $194.46 million during the quarter, compared to the consensus estimate of $219.93 million. Teekay Tankers had a return on equity of 36.16% and a net margin of 37.65%. Analysts predict that Teekay Tankers Ltd. will post 14.28 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, March 1st. This represents a $1.00 annualized dividend and a yield of 1.72%. Teekay Tankers’s dividend payout ratio is currently 6.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $70.00 price objective on shares of Teekay Tankers in a report on Thursday, February 22nd. Evercore ISI dropped their price objective on Teekay Tankers from $77.00 to $73.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. StockNews.com upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Bank of America upgraded Teekay Tankers from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $72.00 in a report on Friday, January 19th.

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.