Y Intercept Hong Kong Ltd Has $1.94 Million Stock Position in Teekay Tankers Ltd. $TNK

Y Intercept Hong Kong Ltd lowered its stake in Teekay Tankers Ltd. (NYSE:TNK) by 55.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,454 shares of the shipping company’s stock after selling 32,723 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Teekay Tankers were worth $1,940,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TNK. Global Trust Asset Management LLC bought a new position in Teekay Tankers in the 1st quarter valued at about $46,000. SG Americas Securities LLC lifted its holdings in shares of Teekay Tankers by 56.9% during the 1st quarter. SG Americas Securities LLC now owns 18,251 shares of the shipping company’s stock worth $1,338,000 after acquiring an additional 6,617 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Teekay Tankers by 291.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,230 shares of the shipping company’s stock worth $66,000 after acquiring an additional 916 shares during the period. Fearnley Asset Management AS acquired a new stake in shares of Teekay Tankers during the 4th quarter worth approximately $17,890,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Teekay Tankers by 217.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,401 shares of the shipping company’s stock worth $75,000 after acquiring an additional 959 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Teekay Tankers

In related news, Director David Schellenberg sold 7,031 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $71.53, for a total transaction of $502,927.43. Following the sale, the director owned 7,445 shares in the company, valued at $532,540.85. The trade was a 48.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on TNK. Evercore restated an “outperform” rating and set a $86.00 price objective on shares of Teekay Tankers in a research report on Friday, May 15th. Bank of America raised 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a research note on Wednesday, June 24th. Wall Street Zen cut Teekay Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Zacks Research upgraded Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Teekay Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Teekay Tankers Price Performance

TNK stock opened at $71.60 on Thursday. The company has a 50 day simple moving average of $74.31 and a 200 day simple moving average of $69.70. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 5.82 and a beta of -0.22. Teekay Tankers Ltd. has a 1 year low of $41.77 and a 1 year high of $83.99.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share for the quarter. Teekay Tankers had a net margin of 42.60% and a return on equity of 16.34%. On average, equities research analysts anticipate that Teekay Tankers Ltd. will post 13.75 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Teekay Tankers’s dividend payout ratio (DPR) is 8.13%.

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.