Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of Teekay Tankers Ltd. (NYSE:TNKFree Report) by 3.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 69,139 shares of the shipping company’s stock after selling 2,648 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Teekay Tankers were worth $2,878,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Teekay Tankers by 18.4% during the first quarter. JPMorgan Chase & Co. now owns 259,382 shares of the shipping company’s stock worth $3,590,000 after buying an additional 40,309 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Teekay Tankers by 27.5% during the first quarter. American Century Companies Inc. now owns 105,429 shares of the shipping company’s stock worth $1,459,000 after buying an additional 22,761 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Teekay Tankers by 20.7% during the first quarter. Rhumbline Advisers now owns 32,864 shares of the shipping company’s stock worth $455,000 after buying an additional 5,639 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Teekay Tankers by 2.5% during the first quarter. Vanguard Group Inc. now owns 98,450 shares of the shipping company’s stock worth $1,363,000 after buying an additional 2,394 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Teekay Tankers during the first quarter worth approximately $159,000. 48.68% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

Shares of NYSE TNK opened at $57.44 on Monday. The business has a fifty day simple moving average of $54.25 and a 200 day simple moving average of $47.87. The company has a current ratio of 3.58, a quick ratio of 3.18 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 3.62, a PEG ratio of 1.37 and a beta of -0.24. Teekay Tankers Ltd. has a one year low of $35.00 and a one year high of $64.42.

Analyst Upgrades and Downgrades

Separately, Bank of America upgraded Teekay Tankers from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $72.00 in a report on Friday, January 19th.

Get Our Latest Analysis on TNK

About Teekay Tankers

(Free Report)

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.

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Institutional Ownership by Quarter for Teekay Tankers (NYSE:TNK)

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