Teekay Tankers Ltd. (NYSE:TNK) Shares Set to Pay Quarterly Dividend of $0.25

Teekay Tankers Ltd. (NYSE:TNK) declared a quarterly dividend on Wednesday, November 11th. Investors of record on Monday, November 23rd will be paid a dividend of $0.25 per share by the shipping company on Friday, December 4th. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, November 23rd.

Teekay Tankers has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Teekay Tankers to earn $7.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.4%.

Teekay Tankers Stock Performance

Shares of TNK stock opened at $89.13 on Thursday. Teekay Tankers has a 52-week low of $50.94 and a 52-week high of $110.65. The stock has a market cap of $3.08 billion, a PE ratio of 5.25 and a beta of -0.05. The firm’s 50 day moving average price is $97.09 and its two-hundred day moving average price is $80.13.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, November 11th. The shipping company reported $5.04 EPS for the quarter, beating the consensus estimate of $4.86 by $0.18. The company had revenue of $369.25 million during the quarter, compared to analysts’ expectations of $263.55 million. Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. As a group, sell-side analysts predict that Teekay Tankers will post 15.40 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Schellenberg sold 7,344 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $100.00, for a total value of $734,400.00. Following the completion of the transaction, the director directly owned 7,344 shares of the company’s stock, valued at approximately $734,400. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Heidi Locke Simon sold 741 shares of Teekay Tankers stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $90.00, for a total value of $66,690.00. Following the completion of the sale, the director directly owned 4,000 shares in the company, valued at $360,000. This represents a 15.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,561 shares of company stock worth $1,380,350 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Teekay Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of TNK. Dimensional Fund Advisors LP lifted its stake in Teekay Tankers by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock valued at $139,579,000 after acquiring an additional 68,437 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of Teekay Tankers in the first quarter valued at approximately $18,330,000. NEOS Investment Management LLC raised its holdings in shares of Teekay Tankers by 41.4% in the second quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock valued at $16,584,000 after purchasing an additional 74,894 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Teekay Tankers by 367.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock valued at $15,947,000 after purchasing an additional 170,940 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Teekay Tankers by 21.1% in the first quarter. Empowered Funds LLC now owns 191,472 shares of the shipping company’s stock worth $14,039,000 after purchasing an additional 33,302 shares in the last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international marine transportation company that owns and operates tankers carrying crude oil and refined petroleum products. Its fleet includes crude-oil vessels such as Aframax and Suezmax tankers, as well as product carriers. The company serves customers in the global energy industry, including oil companies and commodity traders. Its vessels transport petroleum by sea on routes around the world, with employment through a mix of spot voyages and longer-term charter arrangements.