Sei Investments Co. Has $7.78 Million Stake in Teekay Tankers Ltd. $TNK

Key Points

• Sei Investments increased its Teekay Tankers stake by 155.7% in the first quarter, owning 106,160 shares worth approximately $7.78 million. Institutional investors and hedge funds collectively hold 52.67% of TNK.
• Teekay Tankers reported quarterly EPS of $3.69, with a 51.35% net margin and 22.11% return on equity. Analysts expect $13.75 in full-year EPS, while the stock traded near $79.22 against an average analyst price target of $77.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 1.3% yield. Analyst sentiment is mixed, with the overall rating at “Hold”; meanwhile, a director sold 7,031 shares for about $503,000.

Sei Investments Co. boosted its position in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 155.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,160 shares of the shipping company's stock after purchasing an additional 64,645 shares during the quarter. Sei Investments Co. owned about 0.31% of Teekay Tankers worth $7,784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Teekay Tankers during the 4th quarter worth $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Teekay Tankers in the fourth quarter valued at about $33,000. Global Trust Asset Management LLC bought a new stake in shares of Teekay Tankers in the first quarter valued at about $46,000. Leonteq Securities AG acquired a new position in shares of Teekay Tankers in the fourth quarter valued at about $34,000. Finally, Aster Capital Management DIFC Ltd grew its stake in shares of Teekay Tankers by 2,948.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,067 shares of the shipping company's stock valued at $57,000 after acquiring an additional 1,032 shares in the last quarter. 52.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David Schellenberg sold 7,031 shares of the 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 transaction, the director owned 7,445 shares of the company's stock, valued at approximately $532,540.85. This represents a 48.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Teekay Tankers Stock Down 0.2%

TNK opened at $79.22 on Monday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 4.67 and a beta of -0.22. Teekay Tankers Ltd. has a twelve month low of $41.77 and a twelve month high of $83.99. The company has a 50-day simple moving average of $72.68 and a 200 day simple moving average of $72.02.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its earnings results on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. Teekay Tankers had a net margin of 51.35% and a return on equity of 22.11%. Sell-side analysts anticipate that Teekay Tankers Ltd. will post 13.75 EPS for the current fiscal year.

Teekay Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 10th will be issued a dividend of $0.25 per share. 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 payout ratio is 5.89%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TNK. Zacks Research cut shares of Teekay Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Evercore restated an "outperform" rating on shares of Teekay Tankers in a research report on Wednesday, July 22nd. Weiss Ratings cut shares of Teekay Tankers from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Bank of America lifted 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. Finally, Wall Street Zen cut Teekay Tankers from a "strong-buy" rating to a "buy" rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $77.00.

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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