David Schellenberg Sells 7,031 Shares of Teekay Tankers (NYSE:TNK) Stock

Teekay Tankers Ltd. (NYSE:TNK) Director David Schellenberg sold 7,031 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $71.53, for a total value of $502,927.43. Following the transaction, the director owned 7,445 shares in the company, valued at approximately $532,540.85. This trade represents a 48.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Teekay Tankers Trading Down 0.7%

NYSE TNK traded down $0.49 during trading on Monday, hitting $71.71. 360,142 shares of the company traded hands, compared to its average volume of 372,313. Teekay Tankers Ltd. has a 12 month low of $41.05 and a 12 month high of $83.99. The business has a fifty day simple moving average of $75.70 and a 200 day simple moving average of $67.35. The company has a market capitalization of $2.48 billion, a P/E ratio of 5.83 and a beta of -0.25.

Teekay Tankers (NYSE:TNK) last posted its 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 16.34% and a net margin of 42.60%. Equities research analysts predict that Teekay Tankers Ltd. will post 13.75 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 26th. Teekay Tankers’s dividend payout ratio (DPR) is currently 8.13%.

Institutional Investors Weigh In On Teekay Tankers

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Teekay Tankers during the fourth quarter worth about $28,000. Kemnay Advisory Services Inc. acquired a new stake in Teekay Tankers during the fourth quarter worth about $33,000. Leonteq Securities AG acquired a new stake in Teekay Tankers during the fourth quarter worth about $34,000. Global Trust Asset Management LLC acquired a new stake in Teekay Tankers during the first quarter worth about $46,000. Finally, Aster Capital Management DIFC Ltd grew its position in Teekay Tankers by 2,948.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock worth $57,000 after buying an additional 1,032 shares in the last quarter. 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. Evercore reaffirmed an “outperform” rating and issued a $86.00 price target on shares of Teekay Tankers in a research report on Friday, May 15th. Wall Street Zen raised Teekay Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 30th. Bank of America raised their price target on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a research report on Wednesday, May 20th. DNB Markets downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.00.

Teekay Tankers Company Profile

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.