Russell Investments Group Ltd. Has $11.85 Million Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Russell Investments Group Ltd. lowered its position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,926 shares of the shipping company's stock after selling 48,808 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.69% of Teekay Tankers worth $11,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC boosted its stake in shares of Teekay Tankers by 3.6% during the fourth quarter. Bleakley Financial Group LLC now owns 7,396 shares of the shipping company's stock worth $370,000 after buying an additional 255 shares during the period. Simplicity Solutions LLC raised its stake in Teekay Tankers by 3.6% during the 4th quarter. Simplicity Solutions LLC now owns 7,396 shares of the shipping company's stock valued at $370,000 after acquiring an additional 255 shares during the last quarter. CWM LLC raised its stake in Teekay Tankers by 10,816.7% during the 3rd quarter. CWM LLC now owns 655 shares of the shipping company's stock valued at $27,000 after acquiring an additional 649 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Teekay Tankers by 7.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,110 shares of the shipping company's stock valued at $555,000 after acquiring an additional 802 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new stake in Teekay Tankers during the 3rd quarter valued at approximately $35,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TNK. Bank of America raised Teekay Tankers from a "neutral" rating to a "buy" rating and upped their price objective for the company from $56.00 to $72.00 in a research note on Friday, January 19th. Evercore ISI cut their target price on Teekay Tankers from $77.00 to $73.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. StockNews.com raised Teekay Tankers from a "hold" rating to a "buy" rating in a research note on Thursday, March 21st. Finally, Jefferies Financial Group reissued a "buy" rating and set a $70.00 target price on shares of Teekay Tankers in a research note on Thursday, February 22nd.

Teekay Tankers Stock Performance

Shares of TNK stock traded down $0.14 during trading hours on Friday, reaching $60.14. 220,979 shares of the company's stock were exchanged, compared to its average volume of 296,279. Teekay Tankers Ltd. has a 1 year low of $35.00 and a 1 year high of $64.42. The company has a market cap of $2.06 billion, a P/E ratio of 4.05, a price-to-earnings-growth ratio of 1.41 and a beta of -0.27. The company's 50 day moving average is $56.74 and its two-hundred day moving average is $54.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.40 and a quick ratio of 4.02.

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 the consensus estimate of $3.68 by ($0.81). Teekay Tankers had a net margin of 37.65% and a return on equity of 36.16%. The firm had revenue of $194.46 million during the quarter, compared to analysts' expectations of $219.93 million. Equities research analysts anticipate that Teekay Tankers Ltd. will post 14.25 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, March 1st. Teekay Tankers's payout ratio is currently 6.73%.

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.