Teekay Tankers (NYSE:TNK) Director David Schellenberg Sells 101 Shares of Stock

Teekay Tankers Ltd. (NYSE:TNK) Director David Schellenberg sold 101 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $100.00, for a total transaction of $10,100.00. Following the transaction, the director owned 7,344 shares in the company, valued at approximately $734,400. This trade represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Schellenberg also recently made the following trade(s):

• On Wednesday, September 16th, David Schellenberg sold 7,344 shares of Teekay Tankers stock. The stock was sold at an average price of $100.00, for a total transaction of $734,400.00.

Teekay Tankers Trading Up 1.4%

NYSE:TNK traded up $1.35 during trading hours on Wednesday, reaching $100.60. The company had a trading volume of 508,589 shares, compared to its average volume of 465,618. Teekay Tankers Ltd. has a 52 week low of $47.18 and a 52 week high of $103.03. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 5.93 and a beta of -0.19. The firm’s 50 day moving average price is $82.98 and its 200-day moving average price is $76.98.

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

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, August 10th. Teekay Tankers’s dividend payout ratio is 5.89%.

Hedge Funds Weigh In On Teekay Tankers

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in 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 valued at $139,579,000 after purchasing an additional 68,437 shares in the last quarter. Fearnley Asset Management AS bought a new stake in Teekay Tankers during the fourth quarter valued at about $17,890,000. NEOS Investment Management LLC increased its position in Teekay Tankers by 41.4% in the second quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock worth $16,584,000 after buying an additional 74,894 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in Teekay Tankers in the first quarter worth about $18,330,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Teekay Tankers by 367.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock worth $15,947,000 after buying an additional 170,940 shares during the period. 52.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore reissued an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Bank of America increased their price objective on shares of Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 20th. Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Wall Street Zen lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Teekay Tankers Company Profile

Teekay Tankers Ltd. (NYSE: TNK) is a marine transportation company that owns and operates tankers used to transport crude oil, refined petroleum products and other liquid cargoes. Its fleet includes vessels serving the crude oil and product tanker segments, with operations focused on the international energy transportation market.

The company provides commercial and technical vessel management, chartering and transportation services to energy companies, commodity traders and other customers.