Teekay Tankers Ltd. $TNK Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,542 shares of the shipping company’s stock after selling 565 shares during the period. Voya Investment Management LLC’s holdings in Teekay Tankers were worth $250,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Strs Ohio acquired a new position in Teekay Tankers in the first quarter worth about $612,000. Empowered Funds LLC grew its stake in Teekay Tankers by 1.8% in the first quarter. Empowered Funds LLC now owns 185,374 shares of the shipping company’s stock worth $7,094,000 after purchasing an additional 3,213 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Teekay Tankers by 15.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 9,030 shares of the shipping company’s stock worth $346,000 after purchasing an additional 1,234 shares in the last quarter. Millennium Management LLC grew its stake in Teekay Tankers by 24.9% in the first 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Teekay Tankers by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock worth $546,000 after acquiring an additional 610 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TNK. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 target price on shares of Teekay Tankers in a report on Thursday, July 31st. Zacks Research raised Teekay Tankers from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Teekay Tankers currently has an average rating of “Hold” and an average price target of $50.67.

Teekay Tankers Stock Down 2.0%

Teekay Tankers stock opened at $51.32 on Tuesday. The company’s fifty day simple moving average is $48.40 and its 200-day simple moving average is $44.47. Teekay Tankers Ltd. has a 12 month low of $33.35 and a 12 month high of $62.45. The stock has a market cap of $1.76 billion and a P/E ratio of 6.38.

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

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were given 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 1.9%. Teekay Tankers’s payout ratio is currently 12.42%.

About Teekay Tankers

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.