Wells Fargo & Company MN Sells 12,215 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Wells Fargo & Company MN reduced its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 43.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,224 shares of the shipping company’s stock after selling 12,215 shares during the quarter. Wells Fargo & Company MN’s holdings in Teekay Tankers were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Teekay Tankers during the fourth quarter worth approximately $41,000. Meeder Asset Management Inc. bought a new stake in shares of Teekay Tankers during the 4th quarter valued at $77,000. New Age Alpha Advisors LLC acquired a new position in shares of Teekay Tankers in the 4th quarter valued at $132,000. Steward Partners Investment Advisory LLC boosted its position in shares of Teekay Tankers by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company’s stock worth $168,000 after purchasing an additional 286 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of Teekay Tankers during the fourth quarter worth $247,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their target price on Teekay Tankers from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

Teekay Tankers Price Performance

Shares of Teekay Tankers stock opened at $43.30 on Friday. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $74.20. The company has a market capitalization of $1.49 billion, a P/E ratio of 3.82 and a beta of -0.16. The business has a 50-day moving average of $38.45 and a two-hundred day moving average of $41.44.

Teekay Tankers (NYSE:TNK) last announced its earnings results on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.49 by $0.01. The firm had revenue of $163.42 million for the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. On average, equities analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Monday, March 3rd. Teekay Tankers’s payout ratio is presently 8.83%.

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.