Sanctuary Advisors LLC Makes New $812,000 Investment in Teekay Tankers Ltd. $TNK

Sanctuary Advisors LLC bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK) in the first quarter, HoldingsChannel.com reports. The firm bought 11,078 shares of the shipping company’s stock, valued at approximately $812,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TNK. Dimensional Fund Advisors LP boosted its stake in shares of Teekay Tankers by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,835,312 shares of the shipping company’s stock worth $98,042,000 after buying an additional 36,199 shares during the last quarter. Ameriprise Financial Inc. increased its position in Teekay Tankers by 24.6% during the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock valued at $28,903,000 after acquiring an additional 136,990 shares during the last quarter. Summit Street Capital Management LLC lifted its holdings in Teekay Tankers by 14.4% in the third quarter. Summit Street Capital Management LLC now owns 501,774 shares of the shipping company’s stock valued at $25,360,000 after acquiring an additional 63,125 shares during the period. JPMorgan Chase & Co. lifted its holdings in Teekay Tankers by 6.1% in the fourth quarter. JPMorgan Chase & Co. now owns 417,483 shares of the shipping company’s stock valued at $22,302,000 after acquiring an additional 24,024 shares during the period. Finally, State Street Corp boosted its position in Teekay Tankers by 0.8% in the fourth quarter. State Street Corp now owns 399,832 shares of the shipping company’s stock worth $21,359,000 after purchasing an additional 3,101 shares during the last quarter. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock opened at $75.75 on Monday. The stock has a market cap of $2.62 billion, a P/E ratio of 6.16 and a beta of -0.22. The stock’s fifty day moving average is $72.66 and its 200 day moving average is $71.32. Teekay Tankers Ltd. has a one year low of $41.77 and a one year high of $83.99.

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

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 26th. Teekay Tankers’s payout ratio is presently 8.13%.

Insider Buying and Selling at Teekay Tankers

In related news, Director David Schellenberg sold 7,031 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $71.53, for a total transaction of $502,927.43. Following the completion of the transaction, the director directly owned 7,445 shares in the company, valued at approximately $532,540.85. The trade was a 48.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings downgraded Teekay Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Bank of America increased 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. Wall Street Zen raised shares of Teekay Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Evercore restated an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Teekay Tankers has a consensus rating of “Hold” and an average price target 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.