Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 62.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,900 shares of the shipping company's stock after selling 105,933 shares during the period. Two Sigma Investments LP owned approximately 0.19% of Teekay Tankers worth $2,543,000 at the end of the most recent quarter.

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

Teekay Tankers Price Performance

TNK traded up $1.13 during midday trading on Wednesday, reaching $45.37. 483,883 shares of the company's stock were exchanged, compared to its average volume of 400,958. Teekay Tankers Ltd. has a 1-year low of $33.35 and a 1-year high of $72.30. The business's 50-day moving average price is $41.69 and its 200 day moving average price is $40.81. The stock has a market capitalization of $1.56 billion, a PE ratio of 4.01 and a beta of -0.10.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its 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 analyst estimates of $146.31 million. During the same quarter in the previous year, the company posted $4.23 earnings per share. The business's revenue for the quarter was down 37.1% compared to the same quarter last year. As a group, analysts expect that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

The firm also recently declared a -- dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a yield of 2.3%. This is an increase from Teekay Tankers's previous -- dividend of $0.25. Teekay Tankers's dividend payout ratio is currently 10.72%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore ISI cut their price objective 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 restated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.