Linden Thomas Advisory Services LLC Purchases 2,211 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Linden Thomas Advisory Services LLC increased its position in Teekay Tankers Ltd. (NYSE:TNK) by 21.7% in the fourth quarter, HoldingsChannel reports. The firm owned 12,398 shares of the shipping company’s stock after purchasing an additional 2,211 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Teekay Tankers were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TNK. Custom Index Systems LLC increased its position in Teekay Tankers by 4.0% during the 3rd quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock valued at $329,000 after buying an additional 216 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Teekay Tankers by 5.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock worth $322,000 after acquiring an additional 277 shares during the last quarter. CWM LLC increased its holdings in shares of Teekay Tankers by 96.8% during the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 482 shares in the last quarter. U S Global Investors Inc. raised its position in shares of Teekay Tankers by 11.0% in the 3rd quarter. U S Global Investors Inc. now owns 4,897 shares of the shipping company’s stock worth $285,000 after purchasing an additional 486 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Teekay Tankers by 11.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,464 shares of the shipping company’s stock worth $318,000 after purchasing an additional 581 shares in the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Shares of TNK opened at $40.11 on Monday. Teekay Tankers Ltd. has a one year low of $36.04 and a one year high of $74.20. The business has a fifty day moving average of $40.89 and a 200 day moving average of $50.56. The firm has a market capitalization of $1.38 billion, a P/E ratio of 3.29, a PEG ratio of 1.79 and a beta of -0.40.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers’s payout ratio is currently 8.21%.

Analysts Set New Price Targets

A number of analysts have weighed in on TNK shares. Bank of America restated an “underperform” rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. StockNews.com started coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They set a “hold” rating for the company. Finally, Jefferies Financial Group reduced their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Teekay Tankers has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Teekay Tankers 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.