Shariaportfolio Inc. Sells 15,427 Shares of Teekay Tankers Ltd. $TNK

Shariaportfolio Inc. trimmed its stake in shares of Teekay Tankers Ltd. (NYSE:TNK) by 32.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,638 shares of the shipping company’s stock after selling 15,427 shares during the quarter. Teekay Tankers accounts for about 1.1% of Shariaportfolio Inc.’s holdings, making the stock its 15th largest position. Shariaportfolio Inc.’s holdings in Teekay Tankers were worth $2,393,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Teekay Tankers by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock valued at $139,579,000 after purchasing an additional 68,437 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Teekay Tankers by 24.6% in the second quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock worth $28,903,000 after purchasing an additional 136,990 shares during the period. Summit Street Capital Management LLC increased its holdings in shares of Teekay Tankers by 14.4% in the third quarter. Summit Street Capital Management LLC now owns 501,774 shares of the shipping company’s stock worth $25,360,000 after purchasing an additional 63,125 shares during the period. JPMorgan Chase & Co. raised its position in shares of Teekay Tankers by 6.1% in the fourth quarter. JPMorgan Chase & Co. now owns 417,483 shares of the shipping company’s stock worth $22,302,000 after buying an additional 24,024 shares in the last quarter. Finally, State Street Corp raised its position in shares of Teekay Tankers by 0.8% in the fourth quarter. State Street Corp now owns 399,832 shares of the shipping company’s stock worth $21,359,000 after buying an additional 3,101 shares in the last quarter. 52.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Evercore restated an “outperform” rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Weiss Ratings cut Teekay Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Wall Street Zen downgraded Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Zacks Research lowered Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Finally, Bank of America upped their price objective on shares of Teekay Tankers from $69.00 to $75.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.00.

Teekay Tankers Stock Down 0.2%

TNK opened at $79.22 on Monday. The stock has a market cap of $2.74 billion, a PE ratio of 4.67 and a beta of -0.22. Teekay Tankers Ltd. has a 52 week low of $41.77 and a 52 week high of $83.99. The business’s fifty day simple moving average is $72.68 and its 200 day simple moving average is $72.02.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%. As a group, equities analysts anticipate that Teekay Tankers Ltd. will post 13.75 earnings per share for the current year.

Teekay Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Teekay Tankers’s dividend payout ratio is 5.89%.

Insider Activity at Teekay Tankers

In related news, Director David Schellenberg sold 7,031 shares of the stock in a transaction 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 transaction, the director owned 7,445 shares of the company’s stock, valued at approximately $532,540.85. This trade represents a 48.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Teekay Tankers Profile

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.