DAVENPORT & Co LLC Has $11.10 Million Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

DAVENPORT & Co LLC decreased its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 51.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,172 shares of the shipping company's stock after selling 239,827 shares during the period. DAVENPORT & Co LLC owned 0.65% of Teekay Tankers worth $11,102,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TNK. JPMorgan Chase & Co. increased its position in Teekay Tankers by 18.4% in the 1st quarter. JPMorgan Chase & Co. now owns 259,382 shares of the shipping company's stock valued at $3,590,000 after acquiring an additional 40,309 shares during the period. American Century Companies Inc. increased its position in Teekay Tankers by 27.5% in the 1st quarter. American Century Companies Inc. now owns 105,429 shares of the shipping company's stock valued at $1,459,000 after acquiring an additional 22,761 shares during the period. Rhumbline Advisers increased its position in Teekay Tankers by 20.7% in the 1st quarter. Rhumbline Advisers now owns 32,864 shares of the shipping company's stock valued at $455,000 after acquiring an additional 5,639 shares during the period. Vanguard Group Inc. increased its position in Teekay Tankers by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 98,450 shares of the shipping company's stock valued at $1,363,000 after acquiring an additional 2,394 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in Teekay Tankers in the 1st quarter valued at approximately $159,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock traded up $1.09 during trading on Wednesday, reaching $60.95. The company's stock had a trading volume of 455,339 shares, compared to its average volume of 469,064. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.02 and a current ratio of 4.40. The business's fifty day moving average price is $57.05 and its 200-day moving average price is $51.68. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 4.10, a price-to-earnings-growth ratio of 1.42 and a beta of -0.28. Teekay Tankers Ltd. has a one year low of $35.00 and a one year high of $64.42.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The shipping company reported $2.87 earnings per share for the quarter, missing analysts' consensus estimates of $3.68 by ($0.81). The company had revenue of $194.46 million for the quarter, compared to analyst estimates of $219.93 million. Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. As a group, equities research analysts predict that Teekay Tankers Ltd. will post 14.28 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, March 1st. Teekay Tankers's payout ratio is currently 6.73%.

Analysts Set New Price Targets

TNK has been the topic of several research analyst reports. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 price target on shares of Teekay Tankers in a research report on Thursday, February 22nd. Evercore ISI lowered their price target on Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating on the stock in a research report on Friday, February 23rd. Bank of America upgraded Teekay Tankers from a "neutral" rating to a "buy" rating and lifted their price target for the company from $56.00 to $72.00 in a research report on Friday, January 19th. Finally, StockNews.com upgraded Teekay Tankers from a "hold" rating to a "buy" rating in a research report on Thursday, March 21st.

Teekay Tankers Profile

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.