Teekay Tankers Ltd - said on August 3, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.03 per share.
Shareholders of record as of August 14, 2023 will receive the payment on August 25, 2023.
At the current share price of $45.33 / share, the stock's dividend yield is 2.21%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.88%, the lowest has been 0.26%, and the highest has been 2.78%. The standard deviation of yields is 0.71 (n=83).
The current dividend yield is 1.86 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.08. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 346 funds or institutions reporting positions in Teekay Tankers Ltd -. This is an increase of 20 owner(s) or 6.13% in the last quarter. Average portfolio weight of all funds dedicated to TNK is 0.13%, a decrease of 18.77%. Total shares owned by institutions increased in the last three months by 6.78% to 19,661K shares. 
The put/call ratio of TNK is 0.91, indicating a bullish outlook.
Analyst Price Forecast Suggests 33.21% Upside
As of August 2, 2023, the average one-year price target for Teekay Tankers Ltd - is 60.38. The forecasts range from a low of 47.47 to a high of $82.95. The average price target represents an increase of 33.21% from its latest reported closing price of 45.33.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Teekay Tankers Ltd - is 642MM, a decrease of 54.50%. The projected annual non-GAAP EPS is 7.70.
What are Other Shareholders Doing?
Millennium Management holds 1,087K shares representing 3.19% ownership of the company. In it's prior filing, the firm reported owning 1,017K shares, representing an increase of 6.48%. The firm increased its portfolio allocation in TNK by 54.42% over the last quarter.
Citadel Advisors holds 702K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 498K shares, representing an increase of 29.01%. The firm increased its portfolio allocation in TNK by 84.80% over the last quarter.
Marshall Wace, Llp holds 675K shares representing 1.98% ownership of the company. In it's prior filing, the firm reported owning 583K shares, representing an increase of 13.57%. The firm increased its portfolio allocation in TNK by 0.81% over the last quarter.
Healthcare Of Ontario Pension Plan Trust Fund holds 668K shares representing 1.96% ownership of the company. In it's prior filing, the firm reported owning 366K shares, representing an increase of 45.19%. The firm increased its portfolio allocation in TNK by 182.30% over the last quarter.
Two Sigma Investments holds 579K shares representing 1.70% ownership of the company. In it's prior filing, the firm reported owning 495K shares, representing an increase of 14.42%. The firm increased its portfolio allocation in TNK by 48.23% over the last quarter.
Teekay Tankers Background Information
(This description is provided by the company.)
Teekay Tankers currently has a fleet of 52 double-hull tankers (including 26 Suezmax tankers, 17 Aframax tankers and nine LR2 product tankers), and also has four time chartered-in tankers. Teekay Tankers' vessels are typically employed through a mix of short- or medium-term fixed-rate time charter contracts and spot tanker market trading. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business that performs full service lightering and lightering support operations in the U.S. Gulf and Caribbean. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business.
Additional reading:
- US$350,000,000 Secured Revolving Credit Facility Agreement Dated 3 May 2023 (1) Teekay Tankers Ltd. (as borrower) (2) The Banks, Financial Institutions and other Institutional Lenders listed in Schedule 1, Part I (as lenders) (3) The Financial Instit
- Teekay Tankers Ltd. 2023 Long-Term Incentive Plan TEEKAY TANKERS LTD. 2023 LONG-TERM INCENTIVE PLAN SECTION 1. PURPOSE OF THE PLAN The purpose of the Teekay Tankers Ltd. 2023 Long-Term Incentive Plan is to promote the interests of Teekay Tankers Ltd.
- LISTING OF SUBSIDIARIES
- Deed of Novation and Amendment __________________ Teekay Shipping Limited Teekay Services Limited Teekay Tankers Ltd. 1 Deed of Novation and Amendment (“Deed”) DATE 1 November 2021 PARTIES TEEKAY TANKERS LTD. a company incorporated under the laws of
- Deed of Novation and Amendment __________________ Teekay Shipping Limited Teekay Services Limited Teekay Chartering Limited Exhibit 4.6 1 Deed of Novation and Amendment (“Deed”) DATE 1 November 2021 PARTIES TEEKAY SHIPPING LIMITED a company incorpora
This story originally appeared on Fintel.
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