Shares of Teekay Tankers Ltd. (NYSE:TNK – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $77.00.
A number of research analysts recently weighed in on the company. Evercore reaffirmed an “outperform” rating on shares of Teekay Tankers in a research note on Wednesday, July 22nd. Zacks Research cut Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings upgraded Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd.
Get Our Latest Stock Report on Teekay Tankers
Teekay Tankers Trading Up 0.2%
Teekay Tankers (NYSE:TNK – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $258.26 million for the quarter, compared to analyst estimates of $299.03 million. Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. Teekay Tankers’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 EPS. Equities analysts predict that Teekay Tankers will post 15.4 earnings per share for the current fiscal year.
Teekay Tankers Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 10th were given a dividend of $0.25 per share. 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 payout ratio is presently 5.89%.
Insider Buying and Selling
In other Teekay Tankers news, Director David Schellenberg sold 7,344 shares of Teekay Tankers stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $100.00, for a total transaction of $734,400.00. Following the completion of the transaction, the director owned 7,344 shares in the company, valued at approximately $734,400. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Heidi Locke Simon sold 741 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $90.00, for a total value of $66,690.00. Following the sale, the director directly owned 4,000 shares of the company’s stock, valued at $360,000. This represents a 15.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,561 shares of company stock worth $1,380,350 in the last quarter. Insiders own 1.90% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new stake in Teekay Tankers in the 1st quarter valued at $2,109,000. Arrowstreet Capital Limited Partnership boosted its holdings in Teekay Tankers by 367.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock worth $15,947,000 after acquiring an additional 170,940 shares during the last quarter. Fearnley Asset Management AS bought a new stake in shares of Teekay Tankers in the 4th quarter worth $17,890,000. Mizuho Markets Americas LLC bought a new stake in shares of Teekay Tankers in the 1st quarter worth $18,330,000. Finally, NEOS Investment Management LLC raised its holdings in shares of 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 last quarter. Institutional investors own 52.67% of the company’s stock.
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.
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