Insider Selling: Teekay Tankers (NYSE:TNK) Director Sells $734,400.00 in Stock

Teekay Tankers Ltd. (NYSE:TNK) Director David Schellenberg sold 7,344 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $100.00, for a total transaction of $734,400.00. Following the transaction, the director owned 7,344 shares in the company, valued at $734,400. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

David Schellenberg also recently made the following trade(s):

• On Tuesday, September 15th, David Schellenberg sold 101 shares of Teekay Tankers stock. The shares were sold at an average price of $100.00, for a total value of $10,100.00.

Teekay Tankers Price Performance

Shares of TNK opened at $100.68 on Friday. Teekay Tankers Ltd. has a one year low of $47.18 and a one year high of $103.16. The company has a market cap of $3.48 billion, a PE ratio of 5.93 and a beta of -0.19. The stock has a 50-day moving average of $84.76 and a 200-day moving average of $77.46.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Wednesday, July 29th. The shipping company reported $5.56 earnings per share for the quarter, missing analysts’ consensus estimates of $5.61 by ($0.05). Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%.The firm had revenue of $258.26 million for the quarter, compared to analyst estimates of $299.03 million. During the same period last year, the company posted $1.41 earnings per share. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. Analysts expect that Teekay Tankers Ltd. will post 15.4 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, August 10th. Teekay Tankers’s dividend payout ratio (DPR) is currently 5.89%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP boosted its holdings in Teekay Tankers by 1.4% during the second quarter. Engineers Gate Manager LP now owns 55,028 shares of the shipping company’s stock worth $3,570,000 after purchasing an additional 786 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Teekay Tankers in the 2nd quarter valued at about $28,000. IFP Advisors Inc lifted its position in shares of Teekay Tankers by 672.0% during the 2nd quarter. IFP Advisors Inc now owns 1,212 shares of the shipping company’s stock worth $79,000 after buying an additional 1,055 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Teekay Tankers during the 2nd quarter worth approximately $356,000. Finally, NEOS Investment Management LLC boosted its stake in shares of Teekay Tankers by 41.4% in the 2nd quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock worth $16,584,000 after buying an additional 74,894 shares during the last quarter. 52.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Zacks Research lowered shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Evercore reaffirmed an “outperform” rating on shares of Teekay Tankers in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Teekay Tankers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.00.

About Teekay Tankers

Teekay Tankers Ltd. (NYSE: TNK) is a marine transportation company that owns and operates tankers used to transport crude oil, refined petroleum products and other liquid cargoes. Its fleet includes vessels serving the crude oil and product tanker segments, with operations focused on the international energy transportation market.

The company provides commercial and technical vessel management, chartering and transportation services to energy companies, commodity traders and other customers.