R Squared Ltd Takes Position in Teekay Tankers Ltd. (NYSE:TNK)

R Squared Ltd purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,040 shares of the shipping company’s stock, valued at approximately $41,000.

A number of other hedge funds also recently made changes to their positions in TNK. Quarry LP acquired a new stake in shares of Teekay Tankers in the 2nd quarter valued at approximately $43,000. CWM LLC boosted its position in Teekay Tankers by 96.8% during the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock worth $57,000 after buying an additional 482 shares during the period. Millburn Ridgefield Corp acquired a new stake in Teekay Tankers during the 3rd quarter worth approximately $132,000. US Bancorp DE acquired a new stake in Teekay Tankers during the 3rd quarter worth approximately $231,000. Finally, ClearAlpha Technologies LP acquired a new stake in Teekay Tankers during the 3rd quarter worth approximately $255,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Teekay Tankers Stock Down 1.0 %

NYSE:TNK opened at $41.96 on Monday. The company has a fifty day moving average of $40.72 and a 200-day moving average of $49.75. The firm has a market capitalization of $1.44 billion, a P/E ratio of 3.44, a P/E/G ratio of 1.92 and a beta of -0.40. Teekay Tankers Ltd. has a twelve month low of $36.04 and a twelve month high of $74.20.

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.