Amundi Purchases Shares of 22,216 Teekay Tankers Ltd. $TNK

Key Points

• Amundi initiated a position in Teekay Tankers by purchasing 22,216 shares valued at approximately $1.63 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 52.67% of the company.
• Analyst sentiment is mixed, with Teekay Tankers receiving an average rating of “Hold” and a consensus price target of $77.00. The stock recently opened at $77.30, versus a 52-week range of $42.88 to $83.99.
• Teekay Tankers reported quarterly EPS of $3.69, a 51.35% net margin and 22.11% return on equity. The company also declared a quarterly dividend of $0.25 per share, equivalent to a 1.3% annualized yield.

Amundi purchased a new position in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,216 shares of the shipping company's stock, valued at approximately $1,629,000. Amundi owned 0.06% of Teekay Tankers as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in shares of Teekay Tankers by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the shipping company's stock valued at $98,000 after acquiring an additional 172 shares during the period. Glenorchy Capital Ltd boosted its holdings in Teekay Tankers by 0.5% during the fourth quarter. Glenorchy Capital Ltd now owns 36,937 shares of the shipping company's stock valued at $1,973,000 after purchasing an additional 198 shares in the last quarter. Boothbay Fund Management LLC grew its position in Teekay Tankers by 1.4% in the fourth quarter. Boothbay Fund Management LLC now owns 15,172 shares of the shipping company's stock valued at $810,000 after acquiring an additional 214 shares during the period. CWM LLC lifted its holdings in shares of Teekay Tankers by 2.4% during the fourth quarter. CWM LLC now owns 9,171 shares of the shipping company's stock valued at $490,000 after acquiring an additional 216 shares during the period. Finally, Global Retirement Partners LLC grew its stake in Teekay Tankers by 12.7% during the fourth quarter. Global Retirement Partners LLC now owns 2,326 shares of the shipping company's stock worth $124,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds own 52.67% of the company's stock.

Wall Street Analyst Weigh In

TNK has been the subject of a number of research reports. Wall Street Zen lowered Teekay Tankers from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 2nd. Bank of America increased their target price on Teekay Tankers from $69.00 to $75.00 and gave the company an "underperform" rating in a research note on Wednesday, May 20th. Evercore restated an "outperform" rating on shares of Teekay Tankers in a report on Wednesday, July 22nd. Zacks Research downgraded Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Finally, Weiss Ratings downgraded shares of Teekay Tankers from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given 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 company has an average rating of "Hold" and a consensus target price of $77.00.

Teekay Tankers Stock Performance

NYSE TNK opened at $77.30 on Friday. The stock has a market cap of $2.67 billion, a PE ratio of 4.56 and a beta of -0.22. The firm has a 50-day moving average of $73.04 and a 200-day moving average of $72.52. Teekay Tankers Ltd. has a 52-week low of $42.88 and a 52-week high of $83.99.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 earnings per share (EPS) for the quarter. Teekay Tankers had a return on equity of 22.11% and a net margin of 51.35%. As a group, analysts predict that Teekay Tankers Ltd. will post 15.4 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

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

Insider Buying and Selling

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of Teekay Tankers stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $71.53, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.

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