Nuveen Asset Management LLC Reduces Position in Teekay Tankers Ltd. (NYSE:TNK)

Nuveen Asset Management LLC lowered its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 17.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,638 shares of the shipping company's stock after selling 45,189 shares during the period. Nuveen Asset Management LLC owned approximately 0.64% of Teekay Tankers worth $8,700,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Teekay Tankers during the fourth quarter valued at approximately $41,000. Meeder Asset Management Inc. bought a new position in shares of Teekay Tankers in the fourth quarter worth approximately $77,000. New Age Alpha Advisors LLC bought a new position in shares of Teekay Tankers in the fourth quarter worth approximately $132,000. BNP Paribas Financial Markets bought a new position in shares of Teekay Tankers during the fourth quarter worth $143,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Teekay Tankers by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after acquiring an additional 286 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

Teekay Tankers Price Performance

Shares of NYSE:TNK traded up $0.56 during trading hours on Monday, hitting $44.75. The company's stock had a trading volume of 387,545 shares, compared to its average volume of 399,228. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $74.00. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 3.95 and a beta of -0.10. The firm's fifty day moving average price is $41.44 and its 200 day moving average price is $40.75.

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

Teekay Tankers Increases Dividend

The company also recently disclosed a -- dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a $1.00 dividend. The ex-dividend date was Monday, May 19th. This represents a dividend yield of 2.3%. This is an increase from Teekay Tankers's previous -- dividend of $0.25. Teekay Tankers's payout ratio is presently 10.72%.

Analyst Upgrades and Downgrades

TNK has been the subject of a number of research reports. Jefferies Financial Group restated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, May 8th. Evercore ISI dropped their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Teekay Tankers 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.