Key Points
- Director David Schellenberg sold 7,344 Teekay Tankers shares at $100 each for $734,400, reducing his direct ownership by 50%; he also sold 101 shares the previous day.
- Teekay Tankers shares opened at $100.60, up 1.4%, near their 52-week high of $103.03. The company reported quarterly EPS of $5.56 and revenue of $258.26 million, both slightly below analyst expectations.
- The company paid a quarterly dividend of $0.25 per share, equal to a 1.0% annualized yield, while analysts maintain a “Moderate Buy” consensus with a $77 average price target.
Teekay Tankers Ltd. (NYSE:TNK - Get Free Report) Director David Schellenberg sold 101 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $100.00, for a total transaction of $10,100.00. Following the sale, the director directly owned 7,344 shares of the company's stock, valued at $734,400. This represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
David Schellenberg also recently made the following trade(s):
- On Wednesday, September 16th, David Schellenberg sold 7,344 shares of Teekay Tankers stock. The stock was sold at an average price of $100.00, for a total transaction of $734,400.00.
Teekay Tankers Trading Up 1.4%
NYSE:TNK opened at $100.60 on Thursday. Teekay Tankers Ltd. has a 12 month low of $47.18 and a 12 month high of $103.03. The stock has a 50 day moving average of $83.56 and a two-hundred day moving average of $77.14. The firm has a market cap of $3.48 billion, a P/E ratio of 5.93 and a beta of -0.19.
Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings results 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 return on equity of 22.11% and a net margin of 51.35%.The firm had revenue of $258.26 million during the quarter, compared to analyst estimates of $299.03 million. During the same period in the prior year, the firm earned $1.41 earnings per share. The business's revenue was up 32.6% on a year-over-year basis. On average, research analysts forecast that Teekay Tankers Ltd. will post 15.4 earnings per share for the current 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Teekay Tankers's dividend payout ratio is presently 5.89%.
Institutional Investors Weigh In On Teekay Tankers
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNK. Integrated Wealth Concepts LLC acquired a new position in shares of Teekay Tankers in the 2nd quarter valued at $28,000. Leonteq Securities AG purchased a new stake in Teekay Tankers in the 4th quarter valued at about $34,000. Global Trust Asset Management LLC acquired a new position in Teekay Tankers in the first quarter valued at about $46,000. Rockefeller Capital Management L.P. boosted its stake in Teekay Tankers by 291.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,230 shares of the shipping company's stock worth $66,000 after buying an additional 916 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Teekay Tankers by 217.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,401 shares of the shipping company's stock worth $75,000 after buying an additional 959 shares during the period. Institutional investors and hedge funds own 52.67% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on TNK shares. Zacks Research lowered shares of Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Evercore reiterated an "outperform" rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Weiss Ratings raised Teekay Tankers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Wall Street Zen cut Teekay Tankers from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 2nd. Finally, Bank of America raised their target price on Teekay Tankers from $69.00 to $75.00 and gave the stock an "underperform" rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Teekay Tankers has an average rating of "Moderate Buy" and an average target price of $77.00.
View Our Latest Research Report on Teekay Tankers
About Teekay Tankers
(
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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