Teekay Tankers Ltd. $TNK Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in Teekay Tankers Ltd. (NYSE:TNK) by 3.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,903,749 shares of the shipping company’s stock after acquiring an additional 68,437 shares during the period. Dimensional Fund Advisors LP owned about 5.51% of Teekay Tankers worth $139,579,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TNK. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Teekay Tankers during the fourth quarter worth $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Teekay Tankers in the fourth quarter valued at $33,000. Leonteq Securities AG acquired a new position in Teekay Tankers in the fourth quarter valued at $34,000. Global Trust Asset Management LLC acquired a new position in Teekay Tankers in the first quarter valued at $46,000. Finally, Aster Capital Management DIFC Ltd lifted its position in Teekay Tankers by 2,948.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company’s stock worth $57,000 after buying an additional 1,032 shares during the period. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Trading Down 0.1%

Shares of Teekay Tankers stock opened at $75.75 on Monday. Teekay Tankers Ltd. has a twelve month low of $41.77 and a twelve month high of $83.99. The stock has a market capitalization of $2.62 billion, a P/E ratio of 6.16 and a beta of -0.22. The business’s fifty day moving average price is $72.66 and its 200 day moving average price is $71.32.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a return on equity of 16.34% and a net margin of 42.60%. As a group, sell-side analysts predict that Teekay Tankers Ltd. will post 13.75 EPS for the current year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Teekay Tankers’s payout ratio is presently 8.13%.

Insider Activity

In related news, Director David Schellenberg sold 7,031 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $71.53, for a total transaction of $502,927.43. Following the completion of the sale, the director owned 7,445 shares of the company’s stock, valued at approximately $532,540.85. This represents a 48.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Evercore restated an “outperform” rating on shares of Teekay Tankers in a report on Wednesday. Wall Street Zen upgraded shares of Teekay Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research cut shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Bank of America boosted their target price on shares of Teekay Tankers from $69.00 to $75.00 and gave the company an “underperform” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of Teekay Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.00.

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.