Teekay Tankers Ltd. $TNK Shares Sold by Invesco Ltd.

Invesco Ltd. lowered its stake in Teekay Tankers Ltd. (NYSE:TNK) by 22.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,706 shares of the shipping company’s stock after selling 17,618 shares during the quarter. Invesco Ltd. owned about 0.18% of Teekay Tankers worth $2,323,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TNK. Blue Trust Inc. lifted its holdings in Teekay Tankers by 49.3% in the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company’s stock worth $66,000 after purchasing an additional 568 shares during the period. TD Private Client Wealth LLC lifted its holdings in Teekay Tankers by 19.7% in the first quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company’s stock worth $71,000 after purchasing an additional 304 shares during the period. CWM LLC lifted its holdings in Teekay Tankers by 399.3% in the 1st quarter. CWM LLC now owns 3,480 shares of the shipping company’s stock valued at $133,000 after acquiring an additional 2,783 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Teekay Tankers in the 4th quarter valued at about $143,000. Finally, Cable Hill Partners LLC acquired a new stake in Teekay Tankers in the 1st quarter valued at about $184,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Trading Up 1.0%

TNK stock opened at $49.14 on Friday. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $62.45. The firm has a market capitalization of $1.69 billion, a PE ratio of 6.10 and a beta of -0.09. The firm has a 50-day moving average of $44.68 and a two-hundred day moving average of $42.42.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.18). Teekay Tankers had a net margin of 28.94% and a return on equity of 11.48%. The firm had revenue of $154.23 million for the quarter, compared to analysts’ expectations of $162.67 million. During the same period in the prior year, the company posted $3.11 earnings per share. On average, equities research analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Teekay Tankers’s dividend payout ratio is currently 12.42%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price target on shares of Teekay Tankers in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Teekay Tankers currently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

Teekay Tankers Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.