Teekay Tankers Ltd. $TNK Shares Sold by Jacobs Levy Equity Management Inc.

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

Several other institutional investors have also modified their holdings of the company. Encompass Capital Advisors LLC purchased a new stake in shares of Teekay Tankers during the 1st quarter worth approximately $17,210,000. Bridgeway Capital Management LLC boosted its stake in shares of Teekay Tankers by 0.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 352,374 shares of the shipping company's stock worth $13,485,000 after acquiring an additional 3,213 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Teekay Tankers by 107.2% during the 1st quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company's stock worth $3,200,000 after acquiring an additional 43,258 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Teekay Tankers in the 1st quarter valued at approximately $227,000. Finally, Trexquant Investment LP lifted its stake in Teekay Tankers by 129.9% in the 1st quarter. Trexquant Investment LP now owns 55,818 shares of the shipping company's stock valued at $2,136,000 after buying an additional 31,544 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TNK shares. Zacks Research raised Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 target price on shares of Teekay Tankers in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Teekay Tankers presently has a consensus rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Stock Performance

Shares of TNK traded up $0.18 during trading hours on Friday, hitting $52.15. The stock had a trading volume of 413,121 shares, compared to its average volume of 527,088. The firm has a market cap of $1.79 billion and a P/E ratio of 6.48. The company's fifty day simple moving average is $46.25 and its 200 day simple moving average is $43.17. Teekay Tankers Ltd. has a 12-month low of $33.35 and a 12-month high of $62.45.

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

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, August 11th. Teekay Tankers's dividend payout ratio 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.