Teekay Tankers Ltd. (NYSE:TNK) Stock Holdings Trimmed by Bank of America Corp DE

Bank of America Corp DE lowered its position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 47.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 128,537 shares of the shipping company's stock after selling 117,371 shares during the quarter. Bank of America Corp DE owned approximately 0.37% of Teekay Tankers worth $5,114,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its position in Teekay Tankers by 273.7% during the third quarter. Barclays PLC now owns 31,472 shares of the shipping company's stock worth $1,833,000 after acquiring an additional 23,051 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Teekay Tankers during the fourth quarter worth approximately $5,131,000. ABC Arbitrage SA acquired a new position in shares of Teekay Tankers in the 4th quarter valued at $372,000. Proficio Capital Partners LLC acquired a new position in shares of Teekay Tankers in the 4th quarter valued at $629,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Teekay Tankers in the 4th quarter valued at $310,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Analysts Set New Price Targets

TNK has been the topic of a number of research analyst reports. Evercore ISI decreased their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.67.

Teekay Tankers Stock Performance

Shares of NYSE:TNK traded up $0.27 during midday trading on Thursday, hitting $43.67. 326,717 shares of the company's stock traded hands, compared to its average volume of 397,865. The company has a market cap of $1.50 billion, a PE ratio of 3.86 and a beta of -0.10. The firm's fifty day moving average price is $41.11 and its two-hundred day moving average price is $40.80. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $74.20.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.32). The business had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. The business's revenue was down 37.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.23 EPS. As a group, equities research analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The firm also recently announced a -- dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a dividend of $1.00 per share. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. The ex-dividend date is Monday, May 19th. This represents a dividend yield of 2.3%. Teekay Tankers's payout ratio is presently 10.72%.

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.