Simon Heidi Locke Sells 741 Shares of Teekay Tankers (NYSE:TNK) Stock

Teekay Tankers Ltd. (NYSE:TNK) Director Simon Heidi Locke sold 741 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $90.00, for a total transaction of $66,690.00. Following the sale, the director owned 4,000 shares of the company’s stock, valued at approximately $360,000. The trade was a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Teekay Tankers Trading Up 1.9%

TNK opened at $90.80 on Thursday. The company has a market cap of $3.14 billion, a P/E ratio of 5.35 and a beta of -0.22. The business’s 50-day moving average price is $75.05 and its 200-day moving average price is $73.85. Teekay Tankers Ltd. has a 12 month low of $44.28 and a 12 month high of $91.46.

Teekay Tankers (NYSE:TNK) last issued its earnings results on Wednesday, July 29th. The shipping company reported $5.56 earnings per share for the quarter, missing the consensus estimate of $5.61 by ($0.05). Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. The company had revenue of $258.26 million for the quarter, compared to analysts’ expectations of $299.03 million. During the same quarter in the prior year, the company earned $1.41 earnings per share. The company’s revenue was up 32.6% compared to the same quarter last year. Equities research analysts forecast that Teekay Tankers Ltd. will post 15.4 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, August 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Teekay Tankers’s payout ratio is presently 5.89%.

Hedge Funds Weigh In On Teekay Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Teekay Tankers in the fourth quarter valued at $28,000. Kemnay Advisory Services Inc. purchased a new stake in Teekay Tankers during the fourth quarter valued at $33,000. Global Trust Asset Management LLC purchased a new stake in Teekay Tankers during the first quarter valued at $46,000. Leonteq Securities AG bought a new position in Teekay Tankers during the fourth quarter valued at $34,000. 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 valued at $57,000 after purchasing an additional 1,032 shares during the last quarter. Institutional investors own 52.67% of the company’s stock.

Wall Street Analysts Forecast Growth

TNK has been the topic of a number of research analyst reports. Wall Street Zen downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Evercore reiterated an “outperform” rating on shares of Teekay Tankers in a report on Wednesday, July 22nd. Bank of America boosted their target price on Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 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, Zacks Research downgraded shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Key Teekay Tankers News

Here are the key news stories impacting Teekay Tankers this week:

• Positive Sentiment: Technical breakout attracts momentum investors. Teekay Tankers broke above a prior trading range and reached a new 12-month high, signaling continued buying interest. Its 50-day and 200-day moving averages remain well below the current trading range, reinforcing the stock’s strong upward trend. Teekay Tankers Breakout Puts Momentum In Focus
• Positive Sentiment: Analyst consensus remains favorable. Teekay Tankers carries a “Moderate Buy” consensus rating, with one Strong Buy, three Buy, three Hold and one Sell recommendation. This provides support for the stock, although the average price target of $77 is below recent trading levels. Teekay Tankers Receives Moderate Buy Rating
• Neutral Sentiment: Dividend provides modest income support. The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and an approximately 1.1% yield. The low payout ratio leaves substantial room for cash retention, but the dividend is unlikely to be the primary driver of the recent rally.
• Negative Sentiment: Directors sold shares into the rally. Director Rohit Kapoor sold 6,375 shares for approximately $569,160, reducing his position by nearly 75%. Director Simon Heidi Locke separately sold 741 shares for $66,690, cutting his holdings by 15.6%. The transactions may raise caution about insider conviction, although they do not necessarily indicate a change in the company’s fundamentals. Teekay Tankers Insider Selling
• Negative Sentiment: Valuation has moved ahead of analyst targets and recent earnings missed estimates. Teekay Tankers reported quarterly EPS of $5.56 versus the $5.61 consensus and revenue of $258.26 million versus expectations of $299.03 million. Revenue still increased 32.6% year over year, but the earnings and revenue shortfalls could limit further upside if tanker-market conditions weaken.

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.