Entropy Technologies LP Makes New Investment in Teekay Tankers Ltd. (NYSE:TNK)

Entropy Technologies LP acquired a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,615 shares of the shipping company’s stock, valued at approximately $269,000.

Other large investors have also modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of Teekay Tankers during the 2nd quarter valued at $1,775,000. Shariaportfolio Inc. purchased a new stake in shares of Teekay Tankers during the 3rd quarter worth about $3,498,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Teekay Tankers by 51.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 57,846 shares of the shipping company’s stock worth $3,379,000 after purchasing an additional 19,752 shares during the period. Bank of New York Mellon Corp increased its position in Teekay Tankers by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,856 shares of the shipping company’s stock worth $5,633,000 after purchasing an additional 11,535 shares in the last quarter. Finally, Unison Advisors LLC purchased a new position in Teekay Tankers in the third quarter valued at approximately $740,000. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock opened at $43.21 on Friday. Teekay Tankers Ltd. has a 1 year low of $43.17 and a 1 year high of $74.20. The firm has a market cap of $1.48 billion, a PE ratio of 3.55, a price-to-earnings-growth ratio of 1.28 and a beta of -0.32. The firm’s 50-day simple moving average is $53.35 and its 200-day simple moving average is $60.34.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.00 annualized dividend and a yield of 2.31%. Teekay Tankers’s payout ratio is 8.21%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TNK shares. Bank of America reiterated an “underperform” rating and issued a $46.00 price target (down from $51.00) on shares of Teekay Tankers in a report on Wednesday. StockNews.com began coverage on shares of Teekay Tankers in a research report on Thursday, October 10th. They set a “hold” rating on the stock. Evercore ISI lifted their price target on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group decreased their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Fearnley Fonds upgraded Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Teekay Tankers currently 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.