Insider Selling: Teekay Tankers (NYSE:TNK) Director Sells $10,100.00 in Stock

Teekay Tankers Ltd. (NYSE:TNK) Director David Schellenberg sold 101 shares of Teekay Tankers stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $100.00, for a total value of $10,100.00. Following the completion of the transaction, the director owned 7,344 shares of the company’s stock, valued at approximately $734,400. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $100.00, for a total value of $734,400.00.

Teekay Tankers Trading Down 0.1%

Shares of Teekay Tankers stock opened at $100.68 on Friday. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 5.93 and a beta of -0.19. Teekay Tankers Ltd. has a twelve month low of $47.18 and a twelve month high of $103.16. The business’s 50 day simple moving average is $84.76 and its 200-day simple moving average is $77.46.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data 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). The company had revenue of $258.26 million for the quarter, compared to analyst estimates of $299.03 million. Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 EPS. Sell-side analysts predict that Teekay Tankers Ltd. will post 15.4 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 1.0%. Teekay Tankers’s payout ratio is 5.89%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TNK shares. Evercore reaffirmed an “outperform” rating on shares of Teekay Tankers in a report on Wednesday, July 22nd. Zacks Research cut shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research 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 note on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Institutional Investors Weigh In On Teekay Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of TNK. Engineers Gate Manager LP grew its position in Teekay Tankers by 1.4% in the 2nd quarter. Engineers Gate Manager LP now owns 55,028 shares of the shipping company’s stock valued at $3,570,000 after buying an additional 786 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Teekay Tankers during the 2nd quarter worth about $28,000. IFP Advisors Inc lifted its stake in shares of Teekay Tankers by 672.0% in the 2nd quarter. IFP Advisors Inc now owns 1,212 shares of the shipping company’s stock worth $79,000 after acquiring an additional 1,055 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Teekay Tankers in the 2nd quarter worth approximately $356,000. Finally, NEOS Investment Management LLC boosted its holdings in shares of Teekay Tankers by 41.4% in the second quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock valued at $16,584,000 after acquiring an additional 74,894 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.

Teekay Tankers Company Profile

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.