Shariaportfolio Inc. Sells 15,427 Shares of Teekay Tankers Ltd. $TNK

Shariaportfolio Inc. cut its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 32.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,638 shares of the shipping company’s stock after selling 15,427 shares during the quarter. Teekay Tankers makes up about 1.1% of Shariaportfolio Inc.’s portfolio, making the stock its 15th largest position. Shariaportfolio Inc. owned approximately 0.09% of Teekay Tankers worth $2,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in Teekay Tankers by 107.2% in the first quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company’s stock worth $3,200,000 after acquiring an additional 43,258 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Teekay Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock worth $546,000 after purchasing an additional 610 shares during the period. Millennium Management LLC lifted its holdings in shares of Teekay Tankers by 24.9% in the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock worth $9,745,000 after purchasing an additional 50,815 shares in the last quarter. Prudential Financial Inc. grew its position in Teekay Tankers by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 11,765 shares of the shipping company’s stock valued at $491,000 after purchasing an additional 1,035 shares during the period. Finally, First Trust Advisors LP acquired a new stake in Teekay Tankers in the 2nd quarter valued at $224,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $71.53, for a total value of $502,927.43. Following the transaction, the director directly owned 7,445 shares in the company, valued at $532,540.85. The trade was a 48.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Teekay Tankers Trading Down 0.2%

Shares of Teekay Tankers stock opened at $79.22 on Monday. The business’s fifty day simple moving average is $72.68 and its 200 day simple moving average is $72.02. Teekay Tankers Ltd. has a 12 month low of $41.77 and a 12 month high of $83.99. The firm has a market capitalization of $2.74 billion, a P/E ratio of 4.67 and a beta of -0.22.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%. Analysts predict that Teekay Tankers Ltd. will post 13.75 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.00 annualized dividend and a yield of 1.3%. Teekay Tankers’s payout ratio is currently 5.89%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TNK shares. Bank of America lifted their price objective on shares of Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a report on Wednesday, May 20th. Zacks Research lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Evercore reissued an “outperform” rating on shares of Teekay Tankers in a research note on Wednesday, July 22nd. Wall Street Zen lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Weiss Ratings cut Teekay Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.00.

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.