Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) Director Simon Heidi Locke sold 741 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $90.00, for a total transaction of $66,690.00. Following the transaction, the director owned 4,000 shares in the company, valued at approximately $360,000. This trade represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Teekay Tankers Stock Performance
NYSE:TNK opened at $89.25 on Wednesday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 5.26 and a beta of -0.22. Teekay Tankers Ltd. has a 52 week low of $43.54 and a 52 week high of $90.32. The firm has a 50-day moving average price of $74.69 and a two-hundred day moving average price of $73.66.
Teekay Tankers (NYSE:TNK - Get Free Report) last posted its earnings results on Wednesday, July 29th. The shipping company reported $5.56 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 firm had revenue of $258.26 million for the quarter, compared to the consensus estimate of $299.03 million. During the same period in the prior year, the business earned $1.41 EPS. Teekay Tankers's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Teekay Tankers Ltd. will post 15.4 earnings per share for the current year.
Teekay Tankers Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 10th. Teekay Tankers's dividend payout ratio (DPR) is 5.89%.
Analysts Set New Price Targets
A number of research analysts have issued reports on TNK shares. Bank of America upped their price objective on Teekay Tankers from $69.00 to $75.00 and gave the company an "underperform" rating in a research note on Wednesday, May 20th. Wall Street Zen cut Teekay Tankers from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 2nd. Zacks Research downgraded shares of Teekay Tankers from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Weiss Ratings upgraded shares of Teekay Tankers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Finally, Evercore restated an "outperform" rating on shares of Teekay Tankers in a report on Wednesday, July 22nd. One equities research 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $77.00.
Read Our Latest Research Report on TNK
Institutional Investors Weigh In On Teekay Tankers
A number of hedge funds and other institutional investors have recently bought and sold shares of TNK. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Teekay Tankers during the fourth quarter worth $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Teekay Tankers in the fourth quarter valued at $33,000. Leonteq Securities AG bought a new stake in shares of Teekay Tankers during the 4th quarter valued at $34,000. Global Trust Asset Management LLC bought a new stake in shares of Teekay Tankers during the 1st quarter valued at $46,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in Teekay Tankers by 2,948.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company's stock worth $57,000 after purchasing an additional 1,032 shares in the last quarter. Institutional investors own 52.67% of the company's stock.
About Teekay Tankers
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Get Free Report)
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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