Teekay Tankers (NYSE:TNK) Director Rohit (Rk2) Kapoor Sells 6,375 Shares

Teekay Tankers Ltd. (NYSE:TNK) Director Rohit (Rk2) Kapoor sold 6,375 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $89.28, for a total transaction of $569,160.00. Following the completion of the sale, the director directly owned 2,126 shares in the company, valued at approximately $189,809.28. This represents a 74.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Teekay Tankers Price Performance

TNK stock traded up $0.14 during midday trading on Tuesday, hitting $89.25. The company’s stock had a trading volume of 471,304 shares, compared to its average volume of 349,841. The stock has a market capitalization of $3.08 billion, a P/E ratio of 5.26 and a beta of -0.22. Teekay Tankers Ltd. has a twelve month low of $43.54 and a twelve month high of $90.32. The company’s fifty day moving average price is $74.69 and its 200 day moving average price is $73.66.

Teekay Tankers (NYSE:TNK) last posted 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). 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 company earned $1.41 EPS. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. Equities analysts expect that Teekay Tankers Ltd. will post 15.4 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders 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 dividend yield of 1.1%. The ex-dividend date is Monday, August 10th. Teekay Tankers’s dividend payout ratio is presently 5.89%.

Analyst Ratings Changes

TNK has been the subject of a number of research analyst reports. Zacks Research lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Bank of America upped their target price on Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a report on Wednesday, May 20th. Wall Street Zen downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Weiss Ratings upgraded Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Evercore reissued an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Hedge Funds Weigh In On Teekay Tankers

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Teekay Tankers during the second quarter worth approximately $1,699,000. Great Lakes Advisors LLC bought a new position in Teekay Tankers during the 2nd quarter worth approximately $3,439,000. Contravisory Investment Management Inc. purchased a new position in Teekay Tankers in the 2nd quarter worth approximately $247,000. Baron Wealth Management LLC lifted its position in Teekay Tankers by 4.5% in the second quarter. Baron Wealth Management LLC now owns 4,094 shares of the shipping company’s stock valued at $266,000 after purchasing an additional 178 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Teekay Tankers by 7,218.9% during the first quarter. NewEdge Advisors LLC now owns 3,879 shares of the shipping company’s stock valued at $284,000 after purchasing an additional 3,826 shares during the period. Institutional investors own 52.67% of the company’s stock.

About Teekay Tankers

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.