Castellan Group Sells 600 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Castellan Group reduced its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,005 shares of the shipping company’s stock after selling 600 shares during the quarter. Castellan Group’s holdings in Teekay Tankers were worth $641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Teekay Tankers by 9.1% in the first quarter. Vanguard Group Inc. now owns 187,115 shares of the shipping company’s stock valued at $10,929,000 after purchasing an additional 15,537 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Teekay Tankers by 16.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,833 shares of the shipping company’s stock valued at $400,000 after purchasing an additional 964 shares in the last quarter. Blue Trust Inc. increased 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 worth $92,000 after purchasing an additional 172 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Teekay Tankers by 11,234.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,307 shares of the shipping company’s stock valued at $296,000 after buying an additional 4,269 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in 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 acquiring an additional 456 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TNK has been the subject of several recent analyst reports. StockNews.com assumed coverage on shares of Teekay Tankers in a research note on Thursday, October 10th. They issued a “hold” rating for the company. 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 report on Wednesday, November 13th. Jefferies Financial Group reduced their price objective 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, Fearnley Fonds raised shares of Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. 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 given a strong buy rating to the company. According to data from MarketBeat, Teekay Tankers presently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Teekay Tankers Trading Down 0.9 %

NYSE TNK opened at $38.12 on Friday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 3.13, a PEG ratio of 1.14 and a beta of -0.39. The company has a 50 day moving average of $47.26 and a 200-day moving average of $56.87. Teekay Tankers Ltd. has a 1-year low of $37.58 and a 1-year high of $74.20.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.62%. The ex-dividend date was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio 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.