Systematic Financial Management LP Purchases 23,589 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Systematic Financial Management LP boosted its position in Teekay Tankers Ltd. (NYSE:TNK) by 15.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 180,780 shares of the shipping company’s stock after purchasing an additional 23,589 shares during the period. Systematic Financial Management LP owned about 0.53% of Teekay Tankers worth $10,530,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Teekay Tankers by 266.7% in the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock worth $43,000 after purchasing an additional 456 shares in the last quarter. Quarry LP bought a new stake in Teekay Tankers in the 2nd quarter worth about $43,000. CWM LLC grew its position in shares of Teekay Tankers by 96.8% during the 3rd quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 482 shares during the period. Blue Trust Inc. grew its position in shares of Teekay Tankers by 14.7% during the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock valued at $92,000 after acquiring an additional 172 shares during the period. Finally, Millburn Ridgefield Corp bought a new position in shares of Teekay Tankers during the 3rd quarter valued at approximately $132,000. 52.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Teekay Tankers Trading Down 1.6 %

Shares of TNK stock opened at $39.81 on Friday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 3.27, a PEG ratio of 1.24 and a beta of -0.39. The firm’s 50 day moving average is $49.70 and its 200 day moving average is $58.14. Teekay Tankers Ltd. has a 12 month low of $39.22 and a 12 month high of $74.20.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio is presently 8.21%.

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.