Teekay Tankers Ltd. $TNK Stake Decreased by Sagil Capital LLP

Sagil Capital LLP cut its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 373,640 shares of the shipping company’s stock after selling 12,459 shares during the quarter. Teekay Tankers accounts for 4.5% of Sagil Capital LLP’s investment portfolio, making the stock its 3rd biggest holding. Sagil Capital LLP’s holdings in Teekay Tankers were worth $19,960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CSM Advisors LLC raised its holdings in Teekay Tankers by 5.3% during the fourth quarter. CSM Advisors LLC now owns 71,335 shares of the shipping company’s stock worth $3,812,000 after purchasing an additional 3,561 shares during the last quarter. Empowered Funds LLC raised its holdings in Teekay Tankers by 5.4% during the fourth quarter. Empowered Funds LLC now owns 158,170 shares of the shipping company’s stock worth $8,449,000 after purchasing an additional 8,066 shares during the last quarter. Deutsche Bank AG raised its holdings in Teekay Tankers by 4.6% during the fourth quarter. Deutsche Bank AG now owns 17,625 shares of the shipping company’s stock worth $942,000 after purchasing an additional 783 shares during the last quarter. Fox Run Management L.L.C. raised its holdings in Teekay Tankers by 42.6% during the fourth quarter. Fox Run Management L.L.C. now owns 27,332 shares of the shipping company’s stock worth $1,460,000 after purchasing an additional 8,170 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in Teekay Tankers by 7.5% during the fourth quarter. Cerity Partners LLC now owns 6,784 shares of the shipping company’s stock worth $362,000 after purchasing an additional 471 shares during the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David Schellenberg sold 7,031 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $71.53, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen raised Teekay Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Evercore restated an “outperform” rating and issued a $86.00 price objective on shares of Teekay Tankers in a research report on Friday, May 15th. Bank of America upped their price objective on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research report on Wednesday, May 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Teekay Tankers in a research report on Friday, March 27th. Finally, Dnb Carnegie downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Teekay Tankers has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Teekay Tankers Stock Down 0.3%

Shares of NYSE:TNK opened at $72.52 on Friday. Teekay Tankers Ltd. has a 52-week low of $41.05 and a 52-week high of $83.99. The stock’s fifty day simple moving average is $75.69 and its 200-day simple moving average is $67.58. The company has a market capitalization of $2.51 billion, a P/E ratio of 5.90 and a beta of -0.25.

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

Teekay Tankers Dividend Announcement

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

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.