Teekay Tankers (NYSE:TNK) Director Sells $66,690.00 in Stock

Teekay Tankers Ltd. (NYSE:TNK) Director Simon Heidi Locke sold 741 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was 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 of the company’s stock, valued at $360,000. The trade was a 15.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Teekay Tankers Price Performance

Shares of NYSE:TNK opened at $90.93 on Friday. The business’s 50-day moving average is $75.42 and its 200 day moving average is $74.04. Teekay Tankers Ltd. has a 1 year low of $44.63 and a 1 year high of $92.11. The firm has a market capitalization of $3.14 billion, a P/E ratio of 5.36 and a beta of -0.22.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, July 29th. The shipping company reported $5.56 EPS for the quarter, missing analysts’ consensus estimates of $5.61 by ($0.05). Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. The business had revenue of $258.26 million during the quarter, compared to analysts’ expectations of $299.03 million. During the same quarter last year, the business posted $1.41 earnings per share. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, analysts expect that Teekay Tankers Ltd. will post 15.4 EPS for the current year.

Teekay Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 10th. Teekay Tankers’s dividend payout ratio (DPR) is presently 5.89%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Evercore restated an “outperform” rating on shares of Teekay Tankers in a research note on Wednesday, July 22nd. Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings raised shares of 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 raised their target price on Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Teekay Tankers currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Hedge Funds Weigh In On Teekay Tankers

A number of institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Teekay Tankers during the 4th quarter valued at approximately $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Teekay Tankers in the fourth quarter worth $33,000. Global Trust Asset Management LLC purchased a new position in shares of Teekay Tankers during the first quarter worth $46,000. Leonteq Securities AG purchased a new position in shares of Teekay Tankers during the fourth quarter worth $34,000. Finally, Aster Capital Management DIFC Ltd lifted its position in Teekay Tankers by 2,948.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 1,032 shares during the period. 52.67% of the stock is owned by hedge funds and other institutional investors.

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.