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

Teekay Tankers Ltd. (NYSE:TNK – Get Free Report) Director David Schellenberg sold 101 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $100.00, for a total value of $10,100.00. Following the completion of the sale, the director directly owned 7,344 shares in the company, valued at approximately $734,400. The trade was a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

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

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $100.79 on Friday. Teekay Tankers Ltd. has a fifty-two week low of $47.18 and a fifty-two week high of $103.16. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 5.94 and a beta of -0.19. The stock has a fifty day moving average of $84.19 and a two-hundred day moving average of $77.30.

Teekay Tankers (NYSE:TNK – Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $258.26 million during the quarter, compared to analysts’ expectations of $299.03 million. Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. The firm’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. On average, analysts forecast that Teekay Tankers Ltd. will post 15.4 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 10th were issued a $0.25 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TNK. Evercore reiterated an “outperform” rating on shares of Teekay Tankers in a report on Wednesday, July 22nd. 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. Weiss Ratings raised shares of Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Zacks Research cut shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. One equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of 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 during the last quarter. Mizuho Markets Americas LLC purchased a new position in Teekay Tankers during the first quarter worth approximately $18,330,000. Fearnley Asset Management AS purchased a new position in Teekay Tankers during the fourth quarter worth approximately $17,890,000. NEOS Investment Management LLC boosted its holdings in shares of Teekay Tankers by 41.4% in the 2nd 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 last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Teekay Tankers by 367.2% in the 1st 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 last quarter. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Company Profile

(Get Free Report)

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.

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