Shariaportfolio Inc. Buys New Shares in Teekay Tankers Ltd. $TNK

Shariaportfolio Inc. purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) in the third quarter, according to its most recent filing with the SEC. The firm purchased 68,048 shares of the shipping company’s stock, valued at approximately $3,440,000. Teekay Tankers accounts for 1.3% of Shariaportfolio Inc.’s portfolio, making the stock its 12th largest holding. Shariaportfolio Inc. owned 0.20% of Teekay Tankers as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sagil Capital LLP bought a new stake in shares of Teekay Tankers during the 2nd quarter valued at about $7,167,000. Ameriprise Financial Inc. lifted its stake in Teekay Tankers by 24.6% in the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock valued at $28,903,000 after buying an additional 136,990 shares during the period. Oxbow Advisors LLC acquired a new position in Teekay Tankers in the second quarter valued at approximately $4,074,000. American Century Companies Inc. boosted its holdings in shares of Teekay Tankers by 7.5% during the 2nd quarter. American Century Companies Inc. now owns 1,010,177 shares of the shipping company’s stock worth $42,145,000 after buying an additional 70,578 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Teekay Tankers by 63.6% during the 2nd quarter. AQR Capital Management LLC now owns 136,821 shares of the shipping company’s stock worth $5,708,000 after buying an additional 53,195 shares during the period. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Trading Down 1.6%

Shares of NYSE TNK opened at $68.48 on Friday. Teekay Tankers Ltd. has a 12 month low of $33.35 and a 12 month high of $70.09. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 7.61 and a beta of -0.27. The business has a 50-day moving average of $58.67 and a 200-day moving average of $54.89.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Teekay Tankers from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Zacks Research upgraded Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Wall Street Zen lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a report on Monday, December 29th. Finally, Evercore raised their price objective on Teekay Tankers from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, Teekay Tankers currently has a consensus rating of “Buy” and an average target price of $65.00.

Teekay Tankers Profile

Teekay Tankers Ltd is an oil tanker shipping company that owns and operates a fleet of modern crude oil and petroleum product tankers. Listed on the New York Stock Exchange under the ticker symbol TNK, the company provides seaborne transportation services for crude oil, refined petroleum products and petrochemicals. Its operations range across major global trade lanes, offering a mix of spot market voyages and time-charter contracts to a diverse customer base in the oil and energy sector.

The company’s fleet includes a mix of Medium Range (MR), Long Range (LR1 and LR2), Suezmax and Aframax tankers designed to meet various cargo specifications and port restrictions.