Dynamic Technology Lab Private Ltd Sells 8,522 Shares of Teekay Tankers Ltd. $TNK

Dynamic Technology Lab Private Ltd cut its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 29.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,120 shares of the shipping company’s stock after selling 8,522 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.06% of Teekay Tankers worth $1,017,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TNK. AQR Capital Management LLC increased its stake in Teekay Tankers by 107.2% during the first quarter. AQR Capital Management LLC now owns 83,626 shares of the shipping company’s stock worth $3,200,000 after acquiring an additional 43,258 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Teekay Tankers by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company’s stock valued at $546,000 after purchasing an additional 610 shares during the last quarter. Millennium Management LLC raised its holdings in Teekay Tankers by 24.9% during the 1st quarter. Millennium Management LLC now owns 254,641 shares of the shipping company’s stock valued at $9,745,000 after buying an additional 50,815 shares during the period. Envestnet Asset Management Inc. lifted its position in Teekay Tankers by 70.5% in the second quarter. Envestnet Asset Management Inc. now owns 17,684 shares of the shipping company’s stock worth $738,000 after buying an additional 7,313 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Teekay Tankers during the second quarter worth $383,000. Institutional investors own 52.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Evercore restated an “outperform” rating and issued a $84.00 target price on shares of Teekay Tankers in a report on Friday, February 20th. DNB Markets lowered Teekay Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 20th. Wall Street Zen downgraded Teekay Tankers from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Zacks Research upgraded Teekay Tankers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Teekay Tankers in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $77.00.

Teekay Tankers Stock Performance

Teekay Tankers stock opened at $71.89 on Monday. The company has a market capitalization of $2.48 billion, a PE ratio of 7.12 and a beta of -0.32. The company has a 50 day moving average price of $65.01 and a 200-day moving average price of $58.36. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $82.24.

Teekay Tankers (NYSE:TNK) last released its quarterly earnings data on Wednesday, February 18th. The shipping company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.71 by $0.09. The company had revenue of $158.78 million for the quarter, compared to the consensus estimate of $179.70 million. Teekay Tankers had a return on equity of 12.60% and a net margin of 36.90%.Teekay Tankers’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $1.50 EPS. On average, analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, March 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Teekay Tankers’s payout ratio is currently 9.91%.

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.