CWA Asset Management Group LLC Takes Position in Teekay Tankers Ltd. (NYSE:TNK)

CWA Asset Management Group LLC bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,479 shares of the shipping company’s stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in shares of Teekay Tankers by 266.7% during the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock worth $43,000 after purchasing an additional 456 shares during the last quarter. Quarry LP purchased a new stake in Teekay Tankers in the 2nd quarter valued at about $43,000. EntryPoint Capital LLC increased its stake in shares of Teekay Tankers by 76.5% during the 1st quarter. EntryPoint Capital LLC now owns 872 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 378 shares during the last quarter. CWM LLC lifted its holdings in shares of 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 acquiring an additional 482 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Teekay Tankers by 14.7% in the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock worth $92,000 after acquiring an additional 172 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Trading Down 0.9 %

Shares of NYSE TNK opened at $45.07 on Tuesday. The stock has a fifty day moving average price of $54.13 and a 200 day moving average price of $60.76. Teekay Tankers Ltd. has a 12-month low of $44.63 and a 12-month high of $74.20. The company has a market cap of $1.55 billion, a P/E ratio of 3.70, a P/E/G ratio of 1.32 and a beta of -0.32.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.21%.

Analyst Ratings Changes

TNK has been the subject of several research analyst reports. Bank of America lowered shares of Teekay Tankers from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $51.00 in a research report on Friday, November 1st. Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. Jefferies Financial Group restated a “buy” rating and set a $72.00 price target on shares of Teekay Tankers in a research note on Thursday, October 31st. StockNews.com initiated coverage on Teekay Tankers in a research note on Thursday, October 10th. They issued a “hold” rating on the stock. Finally, Evercore ISI increased their target price on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.33.

Teekay Tankers Company 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.