Teekay Tankers (NYSE:TNK) Director David Schellenberg Sells 7,344 Shares of Stock

Teekay Tankers Ltd. (NYSE:TNK) Director David Schellenberg sold 7,344 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $100.00, for a total value of $734,400.00. Following the completion of the sale, the director directly owned 7,344 shares of the company’s stock, valued at $734,400. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, September 15th, David Schellenberg sold 101 shares of Teekay Tankers stock. The stock was sold at an average price of $100.00, for a total value of $10,100.00.

Teekay Tankers Trading Up 1.4%

Shares of TNK stock opened at $100.60 on Thursday. The company’s 50-day moving average price is $83.56 and its 200-day moving average price is $77.14. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 5.93 and a beta of -0.19. Teekay Tankers Ltd. has a twelve month low of $47.18 and a twelve month high of $103.03.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Wednesday, July 29th. The shipping company reported $5.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.61 by ($0.05). Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. The firm had revenue of $258.26 million during the quarter, compared to analysts’ expectations of $299.03 million. During the same period in the prior year, the company posted $1.41 EPS. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, equities research analysts predict 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 was paid on Friday, August 21st. Stockholders of record on Monday, August 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Teekay Tankers’s dividend payout ratio is 5.89%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fearnley Asset Management AS acquired a new position in shares of Teekay Tankers in the fourth quarter worth $17,890,000. Mizuho Markets Americas LLC acquired a new stake in shares of Teekay Tankers in the first quarter valued at $18,330,000. Arrowstreet Capital Limited Partnership boosted its holdings in Teekay Tankers by 367.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock valued at $15,947,000 after purchasing an additional 170,940 shares during the period. NEOS Investment Management LLC boosted its holdings 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 valued at $16,584,000 after purchasing an additional 74,894 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Teekay Tankers by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock worth $139,579,000 after purchasing an additional 68,437 shares in the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Teekay Tankers

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.