Y Intercept Hong Kong Ltd Sells 4,417 Shares of Teekay Tankers Ltd. (NYSE:TNK)

Y Intercept Hong Kong Ltd lowered its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 43.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,865 shares of the shipping company’s stock after selling 4,417 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Teekay Tankers were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TNK. Wexford Capital LP bought a new position in Teekay Tankers during the 3rd quarter worth $835,000. Systematic Financial Management LP grew its stake in shares of Teekay Tankers by 15.0% in the third quarter. Systematic Financial Management LP now owns 180,780 shares of the shipping company’s stock valued at $10,530,000 after acquiring an additional 23,589 shares in the last quarter. Millburn Ridgefield Corp bought a new position in Teekay Tankers during the third quarter worth about $132,000. Jacobs Levy Equity Management Inc. raised its stake in Teekay Tankers by 31.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 306,732 shares of the shipping company’s stock worth $17,867,000 after purchasing an additional 72,798 shares in the last quarter. Finally, ClearAlpha Technologies LP acquired a new position in shares of Teekay Tankers during the 3rd quarter worth approximately $255,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Price Performance

Shares of NYSE TNK opened at $37.82 on Wednesday. The company has a 50 day simple moving average of $45.84 and a 200 day simple moving average of $55.91. Teekay Tankers Ltd. has a 1 year low of $36.04 and a 1 year high of $74.20. The firm has a market cap of $1.30 billion, a PE ratio of 3.11, a price-to-earnings-growth ratio of 1.13 and a beta of -0.39.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.64%. Teekay Tankers’s dividend payout ratio (DPR) is 8.21%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TNK. Jefferies Financial Group cut their target price on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. StockNews.com assumed coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They issued a “hold” rating on the stock. Bank of America restated an “underperform” rating and issued a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. Finally, Fearnley Fonds upgraded 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 issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Teekay Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

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.