28,759 Shares in Teekay Tankers Ltd. $TNK Purchased by Lazard Asset Management LLC

Key Points

• Lazard Asset Management acquired 28,759 Teekay Tankers shares worth approximately $2.1 million, giving it a 0.08% stake. Institutional investors and hedge funds collectively own 52.67% of TNK.
• Analyst sentiment is mixed: Teekay Tankers has an average rating of “Hold” and a consensus price target of $77.00, while the stock recently opened at $79.22 after trading between $41.77 and $83.99 over the past year.
• The company reported quarterly EPS of $3.69 and maintains strong profitability, with a 51.35% net margin. It also declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 1.3% yield.

Lazard Asset Management LLC bought a new stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 28,759 shares of the shipping company's stock, valued at approximately $2,109,000. Lazard Asset Management LLC owned 0.08% of Teekay Tankers at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TNK. Entropy Technologies LP acquired a new stake in shares of Teekay Tankers during the first quarter worth about $355,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Teekay Tankers by 367.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company's stock valued at $15,947,000 after purchasing an additional 170,940 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Teekay Tankers in the first quarter valued at approximately $18,330,000. Sei Investments Co. grew its holdings in shares of Teekay Tankers by 155.7% in the first quarter. Sei Investments Co. now owns 106,160 shares of the shipping company's stock valued at $7,784,000 after purchasing an additional 64,645 shares in the last quarter. Finally, Lido Advisors LLC purchased a new stake in Teekay Tankers during the 1st quarter worth approximately $246,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TNK. Evercore reiterated an "outperform" rating on shares of Teekay Tankers in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Teekay Tankers from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 23rd. Zacks Research lowered Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Bank of America increased their price objective on Teekay Tankers from $69.00 to $75.00 and gave the company an "underperform" rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen lowered Teekay Tankers from a "strong-buy" rating to a "buy" rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Teekay Tankers currently has an average rating of "Hold" and a consensus price target of $77.00.

Teekay Tankers Price Performance

NYSE:TNK opened at $79.22 on Monday. The firm has a market capitalization of $2.74 billion, a PE ratio of 4.67 and a beta of -0.22. The business's fifty day moving average price is $72.68 and its 200 day moving average price is $72.02. Teekay Tankers Ltd. has a 12 month low of $41.77 and a 12 month high of $83.99.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The shipping company reported $3.69 earnings per share 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 EPS for the current year.

Teekay Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, August 10th. Teekay Tankers's dividend payout ratio (DPR) is 5.89%.

Insider Buying and Selling at Teekay Tankers

In related news, Director David Schellenberg sold 7,031 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $71.53, for a total transaction of $502,927.43. Following the completion of the sale, the director owned 7,445 shares in the company, valued at $532,540.85. The trade was a 48.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company's stock.

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.

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