Millburn Ridgefield Corp Makes New $132,000 Investment in Teekay Tankers Ltd. (NYSE:TNK)

Millburn Ridgefield Corp bought a new position in Teekay Tankers Ltd. (NYSE:TNK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,267 shares of the shipping company’s stock, valued at approximately $132,000.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its position in Teekay Tankers by 14.7% in the second quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock valued at $92,000 after buying an additional 172 shares in the last quarter. Custom Index Systems LLC increased its holdings in Teekay Tankers by 4.0% during the 3rd quarter. Custom Index Systems LLC now owns 5,646 shares of the shipping company’s stock valued at $329,000 after purchasing an additional 216 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Teekay Tankers by 5.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,529 shares of the shipping company’s stock worth $322,000 after purchasing an additional 277 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Teekay Tankers by 8.8% during the second quarter. Commonwealth Equity Services LLC now owns 4,013 shares of the shipping company’s stock worth $276,000 after purchasing an additional 323 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Teekay Tankers by 266.7% in the second quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock valued at $43,000 after buying an additional 456 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Teekay Tankers stock opened at $41.65 on Wednesday. Teekay Tankers Ltd. has a fifty-two week low of $39.22 and a fifty-two week high of $74.20. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 3.42, a PEG ratio of 1.19 and a beta of -0.39. The company’s 50 day simple moving average is $50.33 and its 200 day simple moving average is $58.47.

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. Teekay Tankers’s dividend payout ratio (DPR) is currently 8.21%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TNK shares. Fearnley Fonds raised shares of Teekay Tankers to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com started coverage on Teekay Tankers in a research report on Thursday, October 10th. They issued a “hold” rating on the stock. Jefferies Financial Group decreased their price target on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Bank of America restated an “underperform” rating and set a $46.00 target price (down from $51.00) on shares of Teekay Tankers in a research report on Wednesday, November 13th. One 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Teekay Tankers Company 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.