Teekay Tankers Ltd. $TNK Position Cut by Sagil Capital LLP

Sagil Capital LLP lessened its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 373,640 shares of the shipping company’s stock after selling 12,459 shares during the quarter. Teekay Tankers comprises 4.5% of Sagil Capital LLP’s investment portfolio, making the stock its 3rd biggest holding. Sagil Capital LLP owned about 1.08% of Teekay Tankers worth $19,960,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Teekay Tankers in the 4th quarter valued at approximately $28,000. Leonteq Securities AG purchased a new stake in shares of Teekay Tankers during the fourth quarter worth approximately $34,000. Sunbelt Securities Inc. purchased a new stake in shares of Teekay Tankers during the third quarter worth approximately $63,000. PNC Financial Services Group Inc. lifted its holdings in shares of Teekay Tankers by 10.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company’s stock worth $98,000 after purchasing an additional 172 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Teekay Tankers during the third quarter worth $111,000. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Teekay Tankers stock opened at $72.52 on Friday. Teekay Tankers Ltd. has a 1-year low of $41.05 and a 1-year high of $83.99. The company has a market cap of $2.51 billion, a PE ratio of 5.90 and a beta of -0.25. The stock’s 50 day moving average price is $75.69 and its 200 day moving average price is $67.58.

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

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors 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 dividend yield of 1.4%. Teekay Tankers’s payout ratio is 8.13%.

Insider Buying and Selling at Teekay Tankers

In related news, Director David Schellenberg sold 7,031 shares of Teekay Tankers stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $71.53, for a total value of $502,927.43. Following the sale, the director directly owned 7,445 shares in the company, valued at $532,540.85. The trade was a 48.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TNK has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a research note on Friday, March 27th. Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Wall Street Zen raised shares of Teekay Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Dnb Carnegie lowered shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Evercore reissued an “outperform” rating and set a $86.00 price target on shares of Teekay Tankers in a report on Friday, May 15th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.