Jacobs Levy Equity Management Inc. Sells 16,038 Shares of Teekay Tankers Ltd. $TNK

Jacobs Levy Equity Management Inc. reduced its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 282,475 shares of the shipping company's stock after selling 16,038 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.82% of Teekay Tankers worth $10,810,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Teekay Tankers by 49.3% in the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock worth $66,000 after purchasing an additional 568 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Teekay Tankers by 19.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after buying an additional 304 shares during the period. CWM LLC increased its stake in Teekay Tankers by 399.3% in the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company's stock valued at $133,000 after buying an additional 2,783 shares during the period. BNP Paribas Financial Markets acquired a new position in Teekay Tankers in the 4th quarter valued at approximately $143,000. Finally, Cable Hill Partners LLC acquired a new position in Teekay Tankers in the 1st quarter valued at approximately $184,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TNK has been the topic of several research reports. Zacks Research upgraded shares of Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Teekay Tankers has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Trading Up 0.4%

NYSE TNK traded up $0.18 during trading on Friday, reaching $52.15. The company's stock had a trading volume of 413,121 shares, compared to its average volume of 527,088. The stock has a market capitalization of $1.79 billion and a PE ratio of 6.48. The business has a 50-day moving average price of $46.25 and a 200-day moving average price of $43.15. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $62.45.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. The firm had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. During the same period in the prior year, the business earned $3.11 EPS. As a group, analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Teekay Tankers's dividend payout ratio (DPR) is currently 12.42%.

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.