Teekay Tankers Ltd. $TNK Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Teekay Tankers Ltd. by 3.7%, now owning approximately 192,958 shares valued at about $7.39 million.
• Several institutional investors increased their positions in Teekay Tankers, including CWM LLC, which boosted its stake by 399.3% in the first quarter.
• Teekay Tankers recently announced a quarterly dividend of $0.25, representing an annualized dividend yield of 1.9% with a payout ratio of 12.42%.

Goldman Sachs Group Inc. lowered its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,958 shares of the shipping company's stock after selling 7,449 shares during the quarter. Goldman Sachs Group Inc. owned 0.56% of Teekay Tankers worth $7,385,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Teekay Tankers by 49.3% in the first quarter. Blue Trust Inc. now owns 1,720 shares of the shipping company's stock valued at $66,000 after buying an additional 568 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Teekay Tankers by 19.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,844 shares of the shipping company's stock valued at $71,000 after purchasing an additional 304 shares during the last quarter. CWM LLC increased its position in Teekay Tankers by 399.3% during the first quarter. CWM LLC now owns 3,480 shares of the shipping company's stock worth $133,000 after buying an additional 2,783 shares during the period. BNP Paribas Financial Markets acquired a new position in Teekay Tankers during the fourth quarter worth approximately $143,000. Finally, Cable Hill Partners LLC acquired a new position in Teekay Tankers during the first quarter worth approximately $184,000. 52.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on TNK. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, July 31st. Zacks Research raised Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $50.67.

Teekay Tankers Stock Down 1.8%

Shares of TNK traded down $1.00 on Friday, reaching $53.73. The stock had a trading volume of 113,906 shares, compared to its average volume of 522,705. The firm has a market capitalization of $1.84 billion and a PE ratio of 6.67. The firm has a 50-day moving average of $47.14 and a 200 day moving average of $43.61. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $62.45.

Teekay Tankers (NYSE:TNK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). The firm had revenue of $154.23 million during the quarter, compared to analyst estimates of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.During the same quarter in the prior year, the company earned $3.11 EPS. On average, sell-side analysts anticipate that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, August 11th. Teekay Tankers's dividend payout ratio is 12.42%.

Teekay Tankers Company 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.