Teekay Tankers (NYSE:TNK) Director Sells 7,344 Shares of Stock

Teekay Tankers Ltd. (NYSE:TNK) Director David Schellenberg sold 7,344 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $100.00, for a total transaction of $734,400.00. Following the sale, the director owned 7,344 shares in the company, valued at approximately $734,400. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

David Schellenberg also recently made the following trade(s):

• On Tuesday, September 15th, David Schellenberg sold 101 shares of Teekay Tankers stock. The stock was sold at an average price of $100.00, for a total transaction of $10,100.00.

Teekay Tankers Price Performance

TNK stock traded up $1.35 during trading hours on Wednesday, reaching $100.60. 508,576 shares of the stock were exchanged, compared to its average volume of 465,618. The firm’s 50-day moving average is $82.98 and its 200-day moving average is $76.98. Teekay Tankers Ltd. has a 12 month low of $47.18 and a 12 month high of $103.03. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 5.93 and a beta of -0.19.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Wednesday, July 29th. The shipping company reported $5.56 earnings per share for the quarter, missing the consensus estimate of $5.61 by ($0.05). The firm had revenue of $258.26 million for the quarter, compared to analyst estimates of $299.03 million. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%.The firm’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 earnings per share. As a group, equities research analysts forecast that Teekay Tankers Ltd. will post 15.4 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, August 10th. Teekay Tankers’s payout ratio is currently 5.89%.

Analyst Ratings Changes

TNK has been the topic of several recent research reports. Zacks Research lowered shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Evercore restated an “outperform” rating on shares of Teekay Tankers in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Wall Street Zen downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Finally, Bank of America lifted their target price on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.00.

Hedge Funds Weigh In On Teekay Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in TNK. Fearnley Asset Management AS bought a new stake in shares of Teekay Tankers during the fourth quarter worth approximately $17,890,000. Mizuho Markets Americas LLC bought a new position in shares of Teekay Tankers during the first quarter worth approximately $18,330,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Teekay Tankers by 367.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock worth $15,947,000 after purchasing an additional 170,940 shares during the period. NEOS Investment Management LLC lifted its holdings in Teekay Tankers by 41.4% during the 2nd quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock worth $16,584,000 after purchasing an additional 74,894 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Teekay Tankers by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock worth $139,579,000 after purchasing an additional 68,437 shares during the last quarter. 52.67% of the stock is owned by institutional investors.

Teekay Tankers Company Profile

Teekay Tankers Ltd. (NYSE: TNK) is a marine transportation company that owns and operates tankers used to transport crude oil, refined petroleum products and other liquid cargoes. Its fleet includes vessels serving the crude oil and product tanker segments, with operations focused on the international energy transportation market.

The company provides commercial and technical vessel management, chartering and transportation services to energy companies, commodity traders and other customers.