Teekay Tankers (NYSE:TNK) Director David Schellenberg Sells 7,031 Shares

Teekay Tankers Ltd. (NYSE:TNK) Director David Schellenberg sold 7,031 shares of Teekay Tankers stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $71.53, for a total transaction of $502,927.43. Following the completion of the sale, the director owned 7,445 shares of the company’s stock, valued at $532,540.85. This trade represents a 48.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Teekay Tankers Stock Down 0.7%

NYSE TNK opened at $71.71 on Tuesday. The stock has a market capitalization of $2.48 billion, a PE ratio of 5.83 and a beta of -0.25. The company has a 50 day moving average price of $75.70 and a two-hundred day moving average price of $67.35. Teekay Tankers Ltd. has a 12-month low of $41.05 and a 12-month high of $83.99.

Teekay Tankers (NYSE:TNK) last posted its earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. As a group, equities analysts anticipate that Teekay Tankers Ltd. will post 13.75 EPS for the current year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were paid a $0.25 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. Teekay Tankers’s payout ratio is 8.13%.

Hedge Funds Weigh In On Teekay Tankers

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in Teekay Tankers by 10.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company’s stock valued at $98,000 after buying an additional 172 shares during the period. CWA Asset Management Group LLC increased its holdings in Teekay Tankers by 1.5% in the 4th quarter. CWA Asset Management Group LLC now owns 11,626 shares of the shipping company’s stock valued at $621,000 after buying an additional 176 shares during the period. Glenorchy Capital Ltd grew its holdings in shares of Teekay Tankers by 0.5% in the 4th quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company’s stock worth $1,973,000 after purchasing an additional 198 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Teekay Tankers by 1.4% in the 4th quarter. Boothbay Fund Management LLC now owns 15,172 shares of the shipping company’s stock worth $810,000 after purchasing an additional 214 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Teekay Tankers by 2.4% in the 4th quarter. CWM LLC now owns 9,171 shares of the shipping company’s stock worth $490,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a research note on Friday, March 27th. Evercore restated an “outperform” rating and issued a $86.00 price objective on shares of Teekay Tankers in a research note on Friday, May 15th. Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Finally, Wall Street Zen upgraded shares of Teekay Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Teekay Tankers Company 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.