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

Teekay Tankers Ltd. (NYSE:TNK) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Monday, August 10th will be paid a dividend of 0.25 per share by the shipping company on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 10th.

Teekay Tankers has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teekay Tankers to earn $7.35 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 13.6%.

Teekay Tankers Trading Up 2.0%

Shares of NYSE:TNK opened at $78.29 on Thursday. Teekay Tankers has a twelve month low of $41.77 and a twelve month high of $83.99. The company has a market cap of $2.70 billion, a PE ratio of 6.36 and a beta of -0.22. The company’s 50 day moving average is $72.64 and its 200 day moving average is $71.74.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. Equities research analysts predict that Teekay Tankers will post 13.75 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $502,927.43. Following the completion of the transaction, the director directly owned 7,445 shares in the company, valued at $532,540.85. The trade was a 48.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNK. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Teekay Tankers in the fourth quarter worth about $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Teekay Tankers during the 4th quarter valued at about $33,000. Global Trust Asset Management LLC acquired a new stake in shares of Teekay Tankers during the 1st quarter valued at about $46,000. Leonteq Securities AG purchased a new position in shares of Teekay Tankers in the 4th quarter valued at about $34,000. Finally, Aster Capital Management DIFC Ltd increased its stake in shares of Teekay Tankers by 2,948.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 1,032 shares in the last quarter. Hedge funds and other 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.