Marnell Management LLC Invests $1.23 Million in Teekay Tankers Ltd. $TNK

Marnell Management LLC acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,073 shares of the shipping company’s stock, valued at approximately $1,233,000. Marnell Management LLC owned about 0.07% of Teekay Tankers at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TNK. Ameriprise Financial Inc. increased its stake in shares of Teekay Tankers by 24.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 692,796 shares of the shipping company’s stock worth $28,903,000 after purchasing an additional 136,990 shares during the last quarter. HRT Financial LP acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $5,049,000. Qube Research & Technologies Ltd increased its stake in shares of Teekay Tankers by 182.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 120,122 shares of the shipping company’s stock worth $6,072,000 after purchasing an additional 77,574 shares during the last quarter. Ruffer LLP acquired a new position in shares of Teekay Tankers during the 4th quarter worth about $3,738,000. Finally, American Century Companies Inc. increased its stake in shares of Teekay Tankers by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 1,077,363 shares of the shipping company’s stock worth $54,461,000 after purchasing an additional 67,186 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Teekay Tankers news, Director David Schellenberg sold 7,031 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $71.53, for a total transaction of $502,927.43. Following the transaction, the director owned 7,445 shares in the company, valued at $532,540.85. This represents a 48.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

TNK has been the topic of several recent analyst reports. DNB Markets lowered shares of Teekay Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 20th. Zacks Research upgraded shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Wall Street Zen upgraded shares of Teekay Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Evercore reiterated an “outperform” rating and issued a $86.00 price target on shares of Teekay Tankers in a research note on Friday, May 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Teekay Tankers in a research note on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Teekay Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Teekay Tankers Price Performance

Shares of NYSE TNK opened at $75.57 on Monday. The stock’s fifty day moving average price is $75.74 and its two-hundred day moving average price is $67.68. Teekay Tankers Ltd. has a one year low of $41.05 and a one year high of $83.99. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 6.14 and a beta of -0.25.

Teekay Tankers (NYSE:TNK) last issued its quarterly earnings data on Tuesday, March 31st. The shipping company reported $3.69 EPS for the quarter. Teekay Tankers had a return on equity of 16.34% and a net margin of 42.60%. On average, equities analysts anticipate that Teekay Tankers Ltd. will post 13.75 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, May 26th. Teekay Tankers’s dividend payout ratio is presently 8.13%.

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.