Bridgeway Capital Management LLC Sells 25,934 Shares of Teekay Tankers Ltd. $TNK

Bridgeway Capital Management LLC lessened its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 271,170 shares of the shipping company’s stock after selling 25,934 shares during the quarter. Bridgeway Capital Management LLC owned about 0.79% of Teekay Tankers worth $14,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TNK. Mirae Asset Global Investments Co. Ltd. bought a new stake in Teekay Tankers during the 4th quarter valued at approximately $28,000. Kemnay Advisory Services Inc. purchased a new position in Teekay Tankers during the 4th quarter valued at approximately $33,000. Leonteq Securities AG purchased a new position in Teekay Tankers during the 4th quarter valued at approximately $34,000. Aster Capital Management DIFC Ltd grew its holdings in Teekay Tankers by 2,948.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock valued at $57,000 after buying an additional 1,032 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in Teekay Tankers during the 3rd quarter valued at approximately $63,000. Institutional investors own 52.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Teekay Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Zacks Research upgraded Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a report on Friday, March 27th. Bank of America raised their price target on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a report on Wednesday, May 20th. Finally, DNB Markets cut Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Teekay Tankers Stock Performance

Shares of Teekay Tankers stock opened at $73.83 on Thursday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 6.00 and a beta of -0.25. The stock has a 50 day moving average price of $75.59 and a 200-day moving average price of $68.03. Teekay Tankers Ltd. has a one year low of $41.05 and a one year high of $83.99.

Teekay Tankers (NYSE:TNK) last announced its earnings results 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%. Sell-side analysts predict that Teekay Tankers Ltd. will post 13.75 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were issued 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 Activity at Teekay Tankers

In other 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Teekay Tankers 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.