Teekay Tankers (NYSE:TNK) Director David Schellenberg Sells 101 Shares of Stock

Teekay Tankers Ltd. (NYSE:TNK) Director David Schellenberg sold 101 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $100.00, for a total transaction of $10,100.00. Following the completion of the sale, the director owned 7,344 shares in the company, valued at approximately $734,400. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

David Schellenberg also recently made the following trade(s):

• On Wednesday, September 16th, David Schellenberg sold 7,344 shares of Teekay Tankers stock. The stock was sold at an average price of $100.00, for a total value of $734,400.00.

Teekay Tankers Price Performance

Shares of TNK stock opened at $100.60 on Thursday. The company has a market cap of $3.48 billion, a PE ratio of 5.93 and a beta of -0.19. Teekay Tankers Ltd. has a 1 year low of $47.18 and a 1 year high of $103.03. The stock’s 50 day simple moving average is $83.56 and its two-hundred day simple moving average is $77.14.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, July 29th. The shipping company reported $5.56 earnings per share for the quarter, missing the consensus estimate of $5.61 by ($0.05). Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. The company had revenue of $258.26 million for the quarter, compared to analysts’ expectations of $299.03 million. During the same quarter in the previous year, the company posted $1.41 EPS. The business’s quarterly revenue was up 32.6% on a year-over-year basis. Equities research analysts expect that Teekay Tankers Ltd. will post 15.4 EPS for the current year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Teekay Tankers’s dividend payout ratio is currently 5.89%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Teekay Tankers by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock valued at $139,579,000 after buying an additional 68,437 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in Teekay Tankers in the first quarter valued at approximately $18,330,000. Fearnley Asset Management AS acquired a new stake in shares of Teekay Tankers in the fourth quarter worth $17,890,000. NEOS Investment Management LLC raised its stake in shares of Teekay Tankers by 41.4% during the 2nd quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock valued at $16,584,000 after buying an additional 74,894 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Teekay Tankers by 367.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock valued at $15,947,000 after acquiring an additional 170,940 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TNK has been the topic of several research analyst reports. Zacks Research downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings raised shares of Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Evercore reiterated an “outperform” rating on shares of Teekay Tankers in a report on Wednesday, July 22nd. Finally, Bank of America raised their price objective on Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Teekay Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Teekay Tankers Company Profile

Teekay Tankers Ltd. (NYSE: TNK) is a marine transportation company that owns and operates tankers used to transport crude oil, refined petroleum products and other liquid cargoes. Its fleet includes vessels serving the crude oil and product tanker segments, with operations focused on the international energy transportation market.

The company provides commercial and technical vessel management, chartering and transportation services to energy companies, commodity traders and other customers.