Two Sigma Advisers LP Lowers Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Two Sigma Advisers LP decreased its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 31.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 180,070 shares of the shipping company's stock after selling 83,900 shares during the period. Two Sigma Advisers LP owned 0.52% of Teekay Tankers worth $7,165,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on TNK shares. Evercore ISI reduced their price objective 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. Jefferies Financial Group reissued a "buy" rating and set a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.67.

Teekay Tankers Trading Up 0.9%

Teekay Tankers stock traded up $0.42 during trading on Tuesday, reaching $44.95. The company had a trading volume of 305,640 shares, compared to its average volume of 397,085. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 3.97 and a beta of -0.10. The firm's 50-day simple moving average is $40.91 and its 200 day simple moving average is $40.75. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $74.20.

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

Teekay Tankers Increases Dividend

The company also recently declared a -- dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be given a $1.00 dividend. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, May 19th. Teekay Tankers's dividend 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.