Public Employees Retirement System of Ohio Invests $1.70 Million in Teekay Tankers Ltd. $TNK

Public Employees Retirement System of Ohio bought a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,190 shares of the shipping company’s stock, valued at approximately $1,699,000. Public Employees Retirement System of Ohio owned 0.08% of Teekay Tankers as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in Teekay Tankers in the fourth quarter worth approximately $33,000. Leonteq Securities AG purchased a new stake in shares of Teekay Tankers in the 4th quarter valued at approximately $34,000. Global Trust Asset Management LLC acquired a new stake in shares of Teekay Tankers in the 1st quarter valued at $46,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Teekay Tankers by 2,948.6% in the 4th 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 in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Teekay Tankers during the 3rd quarter worth $63,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

NYSE TNK opened at $93.63 on Monday. The company has a fifty day moving average of $78.75 and a two-hundred day moving average of $75.79. The company has a market capitalization of $3.23 billion, a PE ratio of 5.52 and a beta of -0.19. Teekay Tankers Ltd. has a 1 year low of $47.18 and a 1 year high of $94.44.

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 the consensus estimate of $5.61 by ($0.05). Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%.The firm had revenue of $258.26 million for the quarter, compared to analyst estimates of $299.03 million. During the same period last year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 32.6% on a year-over-year basis. On average, research analysts expect that Teekay Tankers Ltd. will post 15.4 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, August 10th. Teekay Tankers’s payout ratio is presently 5.89%.

Insiders Place Their Bets

In related news, Director Heidi Locke Simon sold 741 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $90.00, for a total transaction of $66,690.00. Following the completion of the sale, the director owned 4,000 shares in the company, valued at $360,000. This represents a 15.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rohit (Rk2) Kapoor sold 6,375 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $89.28, for a total transaction of $569,160.00. Following the transaction, the director directly owned 2,126 shares in the company, valued at $189,809.28. The trade was a 74.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Zacks Research cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings raised Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Finally, Bank of America increased their price objective on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a report on Wednesday, May 20th. One 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 assigned a Sell rating to the company. According to data from MarketBeat, Teekay Tankers presently has a consensus rating of “Moderate Buy” 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.