David Schellenberg Sells 7,031 Shares of Teekay Tankers (NYSE:TNK) Stock

Teekay Tankers Ltd. (NYSE:TNK) 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 transaction, the director owned 7,445 shares in the company, valued at approximately $532,540.85. The trade was a 48.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock opened at $71.99 on Wednesday. Teekay Tankers Ltd. has a one year low of $41.05 and a one year high of $83.99. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 5.85 and a beta of -0.25. The business’s 50 day moving average price is $75.69 and its 200 day moving average price is $67.42.

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

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were given a $0.25 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. Teekay Tankers’s payout ratio is currently 8.13%.

Institutional Investors Weigh In On Teekay Tankers

A number of institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its stake in shares of Teekay Tankers by 7,218.9% in the first quarter. NewEdge Advisors LLC now owns 3,879 shares of the shipping company’s stock valued at $284,000 after buying an additional 3,826 shares in the last quarter. Amundi acquired a new stake in shares of Teekay Tankers in the first quarter valued at $1,629,000. Empowered Funds LLC grew its stake 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 valued at $14,039,000 after buying an additional 33,302 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Teekay Tankers by 12.5% in the first quarter. Quantinno Capital Management LP now owns 7,455 shares of the shipping company’s stock valued at $547,000 after buying an additional 830 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Teekay Tankers in the first quarter valued at $2,109,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on TNK. Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a research report on Friday, March 27th. Dnb Carnegie downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Evercore restated an “outperform” rating and issued a $86.00 target price on shares of Teekay Tankers in a research report on Friday, May 15th. 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. Finally, Wall Street Zen upgraded Teekay Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 30th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.