ClearAlpha Technologies LP Takes $255,000 Position in Teekay Tankers Ltd. (NYSE:TNK)

ClearAlpha Technologies LP purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,381 shares of the shipping company’s stock, valued at approximately $255,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in shares of Teekay Tankers by 266.7% in the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock worth $43,000 after buying an additional 456 shares during the period. Quarry LP purchased a new position in shares of Teekay Tankers in the second quarter valued at $43,000. CWM LLC grew its holdings in 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 purchasing an additional 482 shares in the last quarter. Blue Trust Inc. increased its stake in 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 buying an additional 172 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in Teekay Tankers in the 2nd quarter worth $204,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TNK has been the subject of several recent analyst reports. StockNews.com began coverage on Teekay Tankers in a research note on Thursday, October 10th. They set a “hold” rating for the company. Jefferies Financial Group cut their target price on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Bank of America reissued an “underperform” rating and set a $46.00 price target (down previously 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 note on Friday, September 27th. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Teekay Tankers Stock Down 0.9 %

Shares of Teekay Tankers stock opened at $39.88 on Tuesday. The business has a 50-day moving average price of $50.66 and a 200 day moving average price of $58.70. Teekay Tankers Ltd. has a fifty-two week low of $39.22 and a fifty-two week high of $74.20. The firm has a market cap of $1.37 billion, a P/E ratio of 3.27, a P/E/G ratio of 1.20 and a beta of -0.39.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were issued a $0.25 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.51%. Teekay Tankers’s dividend payout ratio (DPR) is 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.