Two Sigma Investments LP Decreases Position in Teekay Tankers Ltd. (NYSE:TNK)

Two Sigma Investments LP cut its stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 62.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,900 shares of the shipping company's stock after selling 105,933 shares during the period. Two Sigma Investments LP owned 0.19% of Teekay Tankers worth $2,543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in shares of 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 worth $168,000 after purchasing an additional 286 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Teekay Tankers by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,653 shares of the shipping company's stock valued at $543,000 after purchasing an additional 494 shares during the period. Kendall Capital Management raised its holdings in shares of Teekay Tankers by 3.3% during the fourth quarter. Kendall Capital Management now owns 17,965 shares of the shipping company's stock valued at $715,000 after acquiring an additional 580 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Teekay Tankers by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company's stock valued at $420,000 after acquiring an additional 686 shares in the last quarter. Finally, Ellevest Inc. raised its holdings in shares of Teekay Tankers by 14.4% during the fourth quarter. Ellevest Inc. now owns 5,704 shares of the shipping company's stock valued at $227,000 after acquiring an additional 720 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Price Performance

NYSE:TNK traded up $0.56 during mid-day trading on Monday, hitting $44.75. 387,545 shares of the company's stock were exchanged, compared to its average volume of 507,903. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $74.00. The business has a fifty day moving average price of $41.32 and a 200 day moving average price of $40.74. The company has a market cap of $1.53 billion, a PE ratio of 3.95 and a beta of -0.10.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.67% and a net margin of 34.55%. The business had revenue of $115.64 million for the quarter, compared to the consensus estimate of $146.31 million. During the same period in the previous year, the firm earned $4.23 EPS. The company's revenue was down 37.1% on a year-over-year basis. On average, equities analysts forecast that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group restated a "buy" rating and set a $55.00 target price on shares of Teekay Tankers in a report on Thursday, May 8th. Evercore ISI decreased their price objective on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.67.

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.