Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Foundry Partners LLC

Foundry Partners LLC trimmed its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 44.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,644 shares of the shipping company’s stock after selling 47,046 shares during the quarter. Foundry Partners LLC owned about 0.17% of Teekay Tankers worth $2,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. R Squared Ltd purchased a new position in Teekay Tankers in the 4th quarter valued at $41,000. Meeder Asset Management Inc. purchased a new stake in shares of Teekay Tankers in the fourth quarter valued at about $77,000. New Age Alpha Advisors LLC acquired a new position in shares of Teekay Tankers during the fourth quarter worth about $132,000. Steward Partners Investment Advisory LLC raised its holdings in Teekay Tankers by 7.3% during 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 in the last quarter. Finally, Ieq Capital LLC acquired a new stake in Teekay Tankers in the fourth quarter valued at about $247,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $55.00 target price on shares of Teekay Tankers in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Teekay Tankers Trading Down 6.0 %

TNK stock opened at $34.46 on Friday. The company’s 50-day moving average price is $39.48 and its 200 day moving average price is $44.16. Teekay Tankers Ltd. has a 52 week low of $33.35 and a 52 week high of $74.20. The company has a market cap of $1.18 billion, a P/E ratio of 3.04 and a beta of -0.16.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $1.50 earnings per share 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 business had revenue of $163.42 million for the quarter, compared to analysts’ expectations of $158.26 million. On average, equities research analysts expect that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Monday, March 3rd. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.83%.

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.