Y Intercept Hong Kong Ltd Sells 16,330 Shares of Teekay Tankers Ltd. $TNK

Y Intercept Hong Kong Ltd lessened its stake in Teekay Tankers Ltd. (NYSE:TNK) by 66.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,363 shares of the shipping company’s stock after selling 16,330 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Teekay Tankers were worth $423,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Teekay Tankers in the 3rd quarter worth approximately $54,000. Global Retirement Partners LLC grew its holdings in shares of Teekay Tankers by 162.6% in the third quarter. Global Retirement Partners LLC now owns 2,064 shares of the shipping company’s stock worth $104,000 after purchasing an additional 1,278 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Teekay Tankers by 85.9% in the second quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock worth $101,000 after buying an additional 1,123 shares during the period. State of Wyoming purchased a new position in shares of Teekay Tankers in the second quarter worth $129,000. Finally, Tower Research Capital LLC TRC raised its holdings in Teekay Tankers by 46.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,194 shares of the shipping company’s stock valued at $133,000 after buying an additional 1,015 shares during the last quarter. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Price Performance

Shares of NYSE TNK opened at $64.31 on Thursday. Teekay Tankers Ltd. has a 1 year low of $33.35 and a 1 year high of $65.64. The stock has a market capitalization of $2.22 billion, a P/E ratio of 7.15 and a beta of -0.27. The company’s 50-day moving average is $57.40 and its 200 day moving average is $54.00.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TNK shares. Wall Street Zen raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Clarkson Capital upgraded shares of Teekay Tankers to a “strong-buy” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a report on Monday, December 29th. Evercore ISI upped their price target on Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Jefferies Financial Group increased their price objective on Teekay Tankers from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Teekay Tankers has a consensus rating of “Buy” and an average price target of $65.00.

Teekay Tankers Company Profile

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.