Jacobs Levy Equity Management Inc. Grows Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Jacobs Levy Equity Management Inc. raised its stake in Teekay Tankers Ltd. (NYSE:TNK) by 31.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,732 shares of the shipping company’s stock after acquiring an additional 72,798 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.89% of Teekay Tankers worth $17,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Teekay Tankers by 14.7% in 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 period. Custom Index Systems LLC lifted its holdings in Teekay Tankers by 4.0% during the third quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock valued at $329,000 after purchasing an additional 216 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Teekay Tankers by 5.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock valued at $322,000 after purchasing an additional 277 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Teekay Tankers by 8.8% during the second quarter. Commonwealth Equity Services LLC now owns 4,013 shares of the shipping company’s stock worth $276,000 after acquiring an additional 323 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position 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 acquiring an additional 456 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of Teekay Tankers in a research report on Thursday, October 10th. They set a “hold” rating for the company. Bank of America reaffirmed an “underperform” rating and issued a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. 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. Finally, Fearnley Fonds raised shares of Teekay Tankers to a “strong-buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Teekay Tankers currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Teekay Tankers Price Performance

Shares of NYSE:TNK opened at $40.44 on Thursday. The firm’s 50-day moving average is $50.02 and its two-hundred day moving average is $58.26. Teekay Tankers Ltd. has a 1 year low of $39.22 and a 1 year high of $74.20. The firm has a market capitalization of $1.39 billion, a PE ratio of 3.33, a price-to-earnings-growth ratio of 1.19 and a beta of -0.39.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio is presently 8.21%.

Teekay Tankers 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.