Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 32.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,555 shares of the shipping company’s stock after selling 3,645 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Teekay Tankers were worth $520,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TNK. Dimensional Fund Advisors LP boosted its stake in Teekay Tankers by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,020,473 shares of the shipping company’s stock worth $100,964,000 after buying an additional 54,886 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Teekay Tankers by 46.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 26,075 shares of the shipping company’s stock worth $1,303,000 after buying an additional 8,239 shares during the period. Assetmark Inc. grew its stake in shares of Teekay Tankers by 82.6% in the 4th quarter. Assetmark Inc. now owns 2,758 shares of the shipping company’s stock valued at $138,000 after purchasing an additional 1,248 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Teekay Tankers by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 23,661 shares of the shipping company’s stock valued at $1,182,000 after buying an additional 542 shares in the last quarter. Finally, Harvest Investment Services LLC purchased a new stake in shares of Teekay Tankers in the fourth quarter valued at approximately $1,564,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Stock Up 2.0 %

Shares of TNK opened at $56.19 on Tuesday. The company’s fifty day moving average is $58.44 and its 200-day moving average is $61.46. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 3.97, a price-to-earnings-growth ratio of 1.38 and a beta of -0.32. Teekay Tankers Ltd. has a 12 month low of $37.20 and a 12 month high of $74.20.

Teekay Tankers (NYSE:TNK) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.13). Teekay Tankers had a return on equity of 26.34% and a net margin of 36.04%. The company had revenue of $296.60 million during the quarter, compared to analyst estimates of $192.19 million. During the same quarter in the prior year, the business earned $4.38 earnings per share. The business’s revenue for the quarter was down 20.0% on a year-over-year basis. As a group, research analysts predict that Teekay Tankers Ltd. will post 13.33 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 1.78%. Teekay Tankers’s dividend payout ratio (DPR) is presently 7.07%.

Wall Street Analyst Weigh In

TNK has been the subject of several research reports. StockNews.com cut Teekay Tankers from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Evercore ISI boosted their target price on shares of Teekay Tankers from $84.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Bank of America lowered their price objective on shares of Teekay Tankers from $77.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $76.00 price target on shares of Teekay Tankers in a research note on Thursday, August 1st.

Teekay Tankers Profile

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.