Teekay Tankers Ltd. (NYSE:TNK – Get Free Report) Director Simon Heidi Locke sold 741 shares of Teekay Tankers stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $90.00, for a total value of $66,690.00. Following the completion of the transaction, the director owned 4,000 shares in the company, valued at approximately $360,000. This represents a 15.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Teekay Tankers Trading Up 0.2%
NYSE:TNK traded up $0.14 on Tuesday, hitting $89.25. The company had a trading volume of 471,304 shares, compared to its average volume of 349,841. Teekay Tankers Ltd. has a 52 week low of $43.54 and a 52 week high of $90.32. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 5.26 and a beta of -0.22. The firm has a 50 day moving average of $74.69 and a two-hundred day moving average of $73.66.
Teekay Tankers (NYSE:TNK – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The shipping company reported $5.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.61 by ($0.05). Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%.The company had revenue of $258.26 million for the quarter, compared to analyst estimates of $299.03 million. During the same quarter last year, the company posted $1.41 earnings per share. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, equities analysts forecast that Teekay Tankers Ltd. will post 15.4 EPS for the current year.
Teekay Tankers Dividend Announcement
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on TNK shares. Evercore restated an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. 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 report on Wednesday, May 20th. 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. Wall Street Zen lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Finally, Zacks Research cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.
Check Out Our Latest Report on TNK
Institutional Trading of Teekay Tankers
Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Teekay Tankers by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock worth $139,579,000 after acquiring an additional 68,437 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Teekay Tankers by 24.6% during the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock worth $28,903,000 after purchasing an additional 136,990 shares during the period. Summit Street Capital Management LLC lifted its holdings in shares of Teekay Tankers by 14.4% in the 3rd quarter. Summit Street Capital Management LLC now owns 501,774 shares of the shipping company’s stock worth $25,360,000 after purchasing an additional 63,125 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Teekay Tankers by 6.1% during the fourth quarter. JPMorgan Chase & Co. now owns 417,483 shares of the shipping company’s stock valued at $22,302,000 after buying an additional 24,024 shares during the last quarter. Finally, State Street Corp lifted its position in Teekay Tankers by 0.8% in the 4th quarter. State Street Corp now owns 399,832 shares of the shipping company’s stock valued at $21,359,000 after acquiring an additional 3,101 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.
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.
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