Charles Schwab Investment Management Inc. Has $9.30 Million Stock Position in Teekay Tankers Ltd. (NYSE:TNK)

Charles Schwab Investment Management Inc. reduced its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 14.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 159,654 shares of the shipping company’s stock after selling 27,345 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Teekay Tankers were worth $9,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in Teekay Tankers by 266.7% in the 2nd quarter. Fifth Third Bancorp now owns 627 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 456 shares during the last quarter. Quarry LP acquired a new stake in shares of Teekay Tankers in the second quarter valued at $43,000. CWM LLC raised its holdings in shares of Teekay Tankers by 96.8% in the third quarter. CWM LLC now owns 980 shares of the shipping company’s stock valued at $57,000 after buying an additional 482 shares during the last quarter. Blue Trust Inc. lifted its position in Teekay Tankers by 14.7% during the 2nd quarter. Blue Trust Inc. now owns 1,341 shares of the shipping company’s stock worth $92,000 after buying an additional 172 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Teekay Tankers during the 2nd quarter worth about $237,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Up 1.1 %

TNK opened at $39.20 on Tuesday. The company has a fifty day simple moving average of $48.54 and a 200 day simple moving average of $57.37. The stock has a market cap of $1.34 billion, a P/E ratio of 3.22, a P/E/G ratio of 1.15 and a beta of -0.39. Teekay Tankers Ltd. has a 12 month low of $38.48 and a 12 month high of $74.20.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, November 12th. Teekay Tankers’s dividend payout ratio (DPR) is presently 8.21%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America reissued an “underperform” rating and set a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. Jefferies Financial Group dropped their target price on Teekay Tankers from $72.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, StockNews.com started coverage on Teekay Tankers in a report on Thursday, October 10th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.67.

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.