28,759 Shares in Teekay Tankers Ltd. $TNK Bought by Lazard Asset Management LLC

Lazard Asset Management LLC purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,759 shares of the shipping company’s stock, valued at approximately $2,109,000.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Teekay Tankers by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock worth $139,579,000 after purchasing an additional 68,437 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Teekay Tankers by 24.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock valued at $28,903,000 after purchasing an additional 136,990 shares during the last quarter. Summit Street Capital Management LLC lifted its holdings in shares of Teekay Tankers by 14.4% in the 3rd quarter. Summit Street Capital Management LLC now owns 501,774 shares of the shipping company’s stock valued at $25,360,000 after purchasing an additional 63,125 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Teekay Tankers by 6.1% in the 4th quarter. JPMorgan Chase & Co. now owns 417,483 shares of the shipping company’s stock valued at $22,302,000 after purchasing an additional 24,024 shares during the period. Finally, State Street Corp boosted its position in shares of Teekay Tankers by 0.8% in the 4th quarter. State Street Corp now owns 399,832 shares of the shipping company’s stock valued at $21,359,000 after purchasing an additional 3,101 shares during the period. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Trading Down 0.2%

Shares of TNK stock opened at $79.22 on Monday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 4.67 and a beta of -0.22. The stock has a 50 day simple moving average of $72.68 and a 200-day simple moving average of $72.02. Teekay Tankers Ltd. has a 12-month low of $41.77 and a 12-month high of $83.99.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share for the quarter. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%. On average, equities analysts forecast that Teekay Tankers Ltd. will post 13.75 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Teekay Tankers’s dividend payout ratio (DPR) is 5.89%.

Insider Buying and Selling

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $71.53, for a total transaction of $502,927.43. Following the sale, the director directly 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 is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

TNK has been the topic of several research analyst reports. Weiss Ratings lowered Teekay Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. Zacks Research downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Wall Street Zen lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Bank of America lifted their target price on shares of Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a report on Wednesday, May 20th. Finally, Evercore reiterated an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.00.

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.