Systematic Financial Management LP Sells 25,195 Shares of Teekay Tankers Ltd. $TNK

Systematic Financial Management LP decreased its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 11.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 189,533 shares of the shipping company’s stock after selling 25,195 shares during the period. Systematic Financial Management LP owned 0.55% of Teekay Tankers worth $13,897,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AQR Capital Management LLC lifted its position in shares of Teekay Tankers by 107.2% in the 1st quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company’s stock worth $3,200,000 after purchasing an additional 43,258 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Teekay Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock valued at $546,000 after buying an additional 610 shares during the period. Millennium Management LLC raised its stake in Teekay Tankers by 24.9% in the first quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock worth $9,745,000 after buying an additional 50,815 shares in the last quarter. Prudential Financial Inc. raised its stake in Teekay Tankers by 9.6% in the second quarter. Prudential Financial Inc. now owns 11,765 shares of the shipping company’s stock worth $491,000 after buying an additional 1,035 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in Teekay Tankers in the second quarter worth approximately $224,000. Institutional investors own 52.67% of the company’s stock.

Insider Activity at Teekay Tankers

In other news, Director David Schellenberg sold 7,031 shares of the firm’s stock in a transaction 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 sale, the director owned 7,445 shares of the company’s stock, valued at $532,540.85. This trade represents a 48.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Zacks Research cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings lowered Teekay Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Evercore restated an “outperform” rating on shares of Teekay Tankers in a research note on Wednesday. Bank of America upped their price objective on Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen raised Teekay Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.00.

Teekay Tankers Stock Up 0.1%

NYSE TNK opened at $75.75 on Friday. Teekay Tankers Ltd. has a 52 week low of $41.77 and a 52 week high of $83.99. The company has a 50 day moving average price of $72.66 and a 200 day moving average price of $71.19. The firm has a market cap of $2.62 billion, a PE ratio of 6.16 and a beta of -0.22.

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

Teekay Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, May 26th. Teekay Tankers’s dividend payout ratio is currently 8.13%.

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.