Teekay Tankers Ltd. (NYSE:TNK) to Issue Quarterly Dividend of $0.25

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, February 18th. Investors of record on Monday, March 2nd will be paid a dividend of 0.25 per share by the shipping company on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd.

Teekay Tankers has a dividend payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teekay Tankers to earn $9.95 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 10.1%.

Teekay Tankers Price Performance

TNK opened at $72.45 on Thursday. The firm has a market capitalization of $2.50 billion, a PE ratio of 8.05 and a beta of -0.27. The business’s 50-day moving average is $60.01 and its two-hundred day moving average is $55.73. Teekay Tankers has a 1 year low of $33.35 and a 1 year high of $73.73.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings results on Wednesday, February 18th. The shipping company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.09. Teekay Tankers had a net margin of 32.87% and a return on equity of 10.63%. The business had revenue of $158.78 million for the quarter, compared to analysts’ expectations of $179.70 million. During the same period last year, the business earned $1.50 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Teekay Tankers will post 7.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TNK. AQR Capital Management LLC lifted its holdings in shares of Teekay Tankers by 107.2% during the first 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. raised its position in Teekay Tankers by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock worth $546,000 after buying an additional 610 shares during the last quarter. Millennium Management LLC lifted its stake in Teekay Tankers by 24.9% during the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock valued at $9,745,000 after acquiring an additional 50,815 shares during the period. CWM LLC boosted its holdings in shares of Teekay Tankers by 124.2% in the 2nd quarter. CWM LLC now owns 7,803 shares of the shipping company’s stock valued at $326,000 after acquiring an additional 4,323 shares during the last quarter. Finally, Denali Advisors LLC increased its stake in shares of Teekay Tankers by 45.7% in the second quarter. Denali Advisors LLC now owns 123,798 shares of the shipping company’s stock worth $5,165,000 after acquiring an additional 38,849 shares during the period. 52.67% of the stock is currently owned by hedge funds and other institutional investors.

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.