Mizuho Markets Americas LLC Invests $18.33 Million in Teekay Tankers Ltd. $TNK

Key Points

• Mizuho Markets Americas LLC disclosed a new first-quarter stake in Teekay Tankers, buying 250,000 shares worth about $18.33 million. The position represents roughly 0.72% of the company.
• Teekay Tankers reported solid recent operating results, including Q1 EPS of $3.69, with a 16.34% return on equity and a 42.60% net margin. Analysts expect the company to earn 13.75 EPS for the current fiscal year.
• The company paid a quarterly dividend of $0.25, or $1.00 annualized, for a 1.3% yield. Meanwhile, analyst sentiment is mixed, with an average rating of Moderate Buy and a consensus price target of $77.

Mizuho Markets Americas LLC acquired a new position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 250,000 shares of the shipping company's stock, valued at approximately $18,330,000. Mizuho Markets Americas LLC owned about 0.72% of Teekay Tankers as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TNK. Ruffer LLP acquired a new stake in shares of Teekay Tankers during the fourth quarter worth about $3,738,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $708,000. Fearnley Asset Management AS acquired a new position in shares of Teekay Tankers in the fourth quarter valued at approximately $17,890,000. Fox Run Management L.L.C. grew its holdings in shares of Teekay Tankers by 42.6% in the fourth quarter. Fox Run Management L.L.C. now owns 27,332 shares of the shipping company's stock valued at $1,460,000 after purchasing an additional 8,170 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in Teekay Tankers during the 4th quarter worth approximately $476,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

TNK opened at $75.72 on Friday. The business's 50-day simple moving average is $72.69 and its 200-day simple moving average is $71.16. Teekay Tankers Ltd. has a one year low of $41.77 and a one year high of $83.99. The stock has a market capitalization of $2.62 billion, a P/E ratio of 6.16 and a beta of -0.22.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its earnings results 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 16.34% and a net margin of 42.60%. On average, equities research analysts forecast that Teekay Tankers Ltd. will post 13.75 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 26th. Teekay Tankers's dividend payout ratio is presently 8.13%.

Analysts Set New Price Targets

TNK has been the subject of several recent research reports. Bank of America raised their price target on shares of Teekay Tankers from $69.00 to $75.00 and gave the company an "underperform" rating in a research report on Wednesday, May 20th. Zacks Research cut Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday. Wall Street Zen lowered shares of Teekay Tankers from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 20th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Teekay Tankers in a research note on Wednesday, June 24th. Finally, Evercore reiterated an "outperform" rating on shares of Teekay Tankers in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.00.

Insider Activity

In other news, Director David Schellenberg sold 7,031 shares of Teekay Tankers stock in a transaction on Monday, June 8th. The shares were sold at an average price of $71.53, for a total value of $502,927.43. Following the transaction, the director directly owned 7,445 shares of the company's stock, valued at $532,540.85. The trade was a 48.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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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