UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases Shares of 5,650 Teekay Tankers Ltd. (NYSE:TNK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the third quarter, Holdings Channel reports. The institutional investor acquired 5,650 shares of the shipping company’s stock, valued at approximately $329,000.

Several other hedge funds have also modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Teekay Tankers during the 3rd quarter worth $562,000. FMR LLC boosted its stake in shares of Teekay Tankers by 9.2% in the 3rd quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock valued at $86,249,000 after buying an additional 124,659 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Teekay Tankers by 25.4% during the third quarter. The Manufacturers Life Insurance Company now owns 98,361 shares of the shipping company’s stock worth $5,730,000 after buying an additional 19,895 shares in the last quarter. Foundry Partners LLC grew its position in shares of Teekay Tankers by 89.3% during the third quarter. Foundry Partners LLC now owns 105,690 shares of the shipping company’s stock worth $6,156,000 after buying an additional 49,853 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in shares of Teekay Tankers by 3.5% during the third quarter. Segall Bryant & Hamill LLC now owns 78,644 shares of the shipping company’s stock worth $4,581,000 after buying an additional 2,639 shares during the period. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on TNK shares. Fearnley Fonds upgraded shares of Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. Bank of America reaffirmed an “underperform” rating and set a $46.00 price objective (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Jefferies Financial Group dropped their target price on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com began coverage on Teekay Tankers in a report on Thursday, October 10th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Teekay Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Teekay Tankers Trading Up 0.8 %

Shares of NYSE:TNK opened at $37.51 on Friday. The firm has a 50 day simple moving average of $44.55 and a 200-day simple moving average of $55.41. Teekay Tankers Ltd. has a twelve month low of $36.04 and a twelve month high of $74.20. The company has a market capitalization of $1.29 billion, a PE ratio of 3.08, a P/E/G ratio of 1.13 and a beta of -0.39.

Teekay Tankers Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio (DPR) is currently 8.21%.

About Teekay Tankers

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.