Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by LPL Financial LLC

LPL Financial LLC cut its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 71.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,625 shares of the shipping company's stock after selling 21,869 shares during the period. LPL Financial LLC's holdings in Teekay Tankers were worth $343,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. R Squared Ltd acquired a new position in shares of Teekay Tankers during the fourth quarter valued at $41,000. Steward Partners Investment Advisory LLC boosted its stake in Teekay Tankers by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock valued at $168,000 after purchasing an additional 286 shares during the period. Ieq Capital LLC bought a new position in Teekay Tankers in the 4th quarter worth about $247,000. Magnetar Financial LLC increased its stake in shares of Teekay Tankers by 30.3% in the fourth quarter. Magnetar Financial LLC now owns 6,221 shares of the shipping company's stock valued at $248,000 after purchasing an additional 1,445 shares during the period. Finally, Essex Financial Services Inc. bought a new stake in shares of Teekay Tankers during the fourth quarter valued at approximately $255,000. Institutional investors own 52.67% of the company's stock.

Analyst Ratings Changes

TNK has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a report on Thursday, February 20th. Evercore ISI decreased their price target on 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 investment 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers Price Performance

Shares of NYSE TNK traded up $0.54 during mid-day trading on Friday, reaching $43.81. 74,227 shares of the company traded hands, compared to its average volume of 379,619. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $74.20. The stock has a fifty day simple moving average of $38.45 and a 200-day simple moving average of $41.44. The firm has a market cap of $1.50 billion, a PE ratio of 3.87 and a beta of -0.16.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The firm had revenue of $163.42 million for the quarter, compared to analyst estimates of $158.26 million. As a group, analysts predict that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.25 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Teekay Tankers's payout ratio is currently 8.83%.

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.