Teekay Tankers (NYSE:TNK) Director Simon Heidi Locke Sells 741 Shares

Teekay Tankers Ltd. (NYSE:TNK) Director Simon Heidi Locke sold 741 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $90.00, for a total value of $66,690.00. Following the sale, the director owned 4,000 shares in the company, valued at approximately $360,000. This trade represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Teekay Tankers Price Performance

Teekay Tankers stock opened at $89.25 on Wednesday. The business has a 50 day moving average of $74.69 and a 200-day moving average of $73.66. The company has a market capitalization of $3.08 billion, a P/E ratio of 5.26 and a beta of -0.22. Teekay Tankers Ltd. has a 1 year low of $43.54 and a 1 year high of $90.32.

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

Teekay Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 10th will be given a dividend of $0.25 per share. 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 1.1%. Teekay Tankers’s dividend payout ratio is 5.89%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TNK. Zacks Research lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Bank of America upped their target price on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research report on Wednesday, May 20th. Evercore reaffirmed an “outperform” rating on shares of Teekay Tankers in a research note on Wednesday, July 22nd. Wall Street Zen lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings raised Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.00.

Institutional Trading of Teekay Tankers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in shares of 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 in the last quarter. Ameriprise Financial Inc. increased its position in shares of Teekay Tankers by 24.6% during the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock worth $28,903,000 after acquiring an additional 136,990 shares in the last quarter. Summit Street Capital Management LLC increased its position in shares of Teekay Tankers by 14.4% during the third quarter. Summit Street Capital Management LLC now owns 501,774 shares of the shipping company’s stock worth $25,360,000 after acquiring an additional 63,125 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 worth $22,302,000 after acquiring an additional 24,024 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Teekay Tankers by 0.8% in the fourth quarter. State Street Corp now owns 399,832 shares of the shipping company’s stock worth $21,359,000 after purchasing an additional 3,101 shares during the last quarter. Institutional investors own 52.67% 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.