Teekay Tankers Ltd. $TNK Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 21.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,802 shares of the shipping company’s stock after selling 8,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of Teekay Tankers worth $1,608,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of Teekay Tankers in the 3rd quarter valued at about $54,000. Osaic Holdings Inc. lifted its stake in Teekay Tankers by 85.9% in the second quarter. Osaic Holdings Inc. now owns 2,431 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,123 shares during the last quarter. Global Retirement Partners LLC boosted 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 valued at $104,000 after acquiring an additional 1,278 shares during the period. State of Wyoming purchased a new position in shares of Teekay Tankers during the second quarter worth approximately $129,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Teekay Tankers by 46.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,194 shares of the shipping company’s stock worth $133,000 after acquiring an additional 1,015 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Stock Up 3.6%

NYSE TNK opened at $66.73 on Monday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 7.41 and a beta of -0.27. Teekay Tankers Ltd. has a 52-week low of $33.35 and a 52-week high of $67.20. The firm has a 50-day moving average price of $57.71 and a 200 day moving average price of $54.37.

Analyst Upgrades and Downgrades

TNK has been the subject of several research reports. Wall Street Zen downgraded shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Sunday. Evercore lifted their price objective on shares of Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Jefferies Financial Group upped their target price on shares of Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a report on Monday, December 29th. Finally, Zacks Research upgraded Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price 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.