Empowered Funds LLC Purchases Shares of 182,161 Teekay Tankers Ltd. (NYSE:TNK)

Empowered Funds LLC bought a new position in Teekay Tankers Ltd. (NYSE:TNK) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 182,161 shares of the shipping company’s stock, valued at approximately $7,248,000.

Several other institutional investors also recently made changes to their positions in TNK. FMR LLC grew its stake in Teekay Tankers by 9.2% during the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock worth $86,249,000 after buying an additional 124,659 shares during the period. Principal Financial Group Inc. raised its holdings in Teekay Tankers by 9.7% in the third quarter. Principal Financial Group Inc. now owns 906,700 shares of the shipping company’s stock valued at $52,815,000 after acquiring an additional 80,217 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Teekay Tankers by 0.8% during the third quarter. Geode Capital Management LLC now owns 317,987 shares of the shipping company’s stock worth $18,542,000 after purchasing an additional 2,403 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Teekay Tankers by 31.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock worth $17,867,000 after acquiring an additional 72,798 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in Teekay Tankers by 15.0% during the third quarter. Systematic Financial Management LP now owns 180,780 shares of the shipping company’s stock valued at $10,530,000 after purchasing an additional 23,589 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Stock Up 1.2 %

TNK opened at $42.20 on Tuesday. Teekay Tankers Ltd. has a fifty-two week low of $36.04 and a fifty-two week high of $74.20. The firm has a market cap of $1.45 billion, a PE ratio of 3.46, a P/E/G ratio of 1.98 and a beta of -0.43. The business has a fifty day simple moving average of $40.95 and a 200-day simple moving average of $48.85.

Wall Street Analysts Forecast Growth

TNK has been the topic of a number of research reports. Bank of America reiterated an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Jefferies Financial Group lowered their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.