Mizuho Markets Americas LLC Acquires Shares of 250,000 Teekay Tankers Ltd. $TNK

Mizuho Markets Americas LLC bought a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 250,000 shares of the shipping company’s stock, valued at approximately $18,330,000.

Several other large investors have also modified their holdings of TNK. Mirae Asset Global Investments Co. Ltd. purchased a new position in Teekay Tankers in the 4th quarter valued at $28,000. Kemnay Advisory Services Inc. purchased a new stake in Teekay Tankers in the 4th quarter valued at approximately $33,000. Leonteq Securities AG purchased a new stake in Teekay Tankers in the 4th quarter valued at approximately $34,000. Global Trust Asset Management LLC acquired a new position in Teekay Tankers during the 1st quarter worth approximately $46,000. Finally, Aster Capital Management DIFC Ltd raised its stake in shares of 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 worth $57,000 after buying an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Shares of TNK opened at $75.72 on Friday. Teekay Tankers Ltd. has a 1-year low of $41.77 and a 1-year high of $83.99. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 6.16 and a beta of -0.22. The firm has a 50 day simple moving average of $72.69 and a 200-day simple moving average of $71.16.

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%. On average, equities analysts expect that Teekay Tankers Ltd. will post 13.75 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.00 annualized dividend and a yield of 1.3%. Teekay Tankers’s payout ratio is presently 8.13%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TNK shares. Bank of America lifted their price target on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research note on Wednesday, May 20th. Zacks Research cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of Teekay Tankers in a report on Wednesday, June 24th. Evercore restated an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday. Finally, Wall Street Zen cut shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Insiders Place Their Bets

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $71.53, for a total value of $502,927.43. Following the transaction, the director directly owned 7,445 shares in the company, valued at approximately $532,540.85. This represents a 48.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.

About Teekay Tankers

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.