Yaupon Capital Management LP Has $12.01 Million Stock Holdings in Teck Resources Ltd $TECK

Key Points

• Yaupon Capital Management LP significantly reduced its stake in Teck Resources by selling 482,286 shares, resulting in a 59.4% decrease in holdings during the first quarter.
• Teck Resources declared a quarterly dividend of $0.0918 per share, which is an increase from the previous dividend of $0.09, with a yield of 1.0%.
• The company's stock is currently trading at $35.17, with a market capitalization of $16.89 billion and notable analyst activity including several price target adjustments.

Yaupon Capital Management LP lowered its holdings in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK by 59.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,595 shares of the basic materials company's stock after selling 482,286 shares during the period. Yaupon Capital Management LP owned approximately 0.07% of Teck Resources worth $12,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in shares of Teck Resources by 5.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,354 shares of the basic materials company's stock worth $377,000 after buying an additional 545 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Teck Resources by 7,560.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,149 shares of the basic materials company's stock worth $42,000 after acquiring an additional 1,134 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Teck Resources by 20.9% in the 1st quarter. Cetera Investment Advisers now owns 69,885 shares of the basic materials company's stock worth $2,546,000 after acquiring an additional 12,092 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Teck Resources by 22.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,141 shares of the basic materials company's stock worth $442,000 after acquiring an additional 2,240 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Teck Resources by 13,171.4% in the 1st quarter. GAMMA Investing LLC now owns 3,716 shares of the basic materials company's stock worth $135,000 after acquiring an additional 3,688 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Benchmark decreased their target price on Teck Resources from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, July 28th. Scotiabank reiterated an "outperform" rating on shares of Teck Resources in a report on Wednesday. CIBC downgraded Teck Resources from a "sector outperform" rating to a "neutral" rating in a report on Friday, July 25th. Cibc World Mkts downgraded Teck Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, Stifel Nicolaus initiated coverage on Teck Resources in a report on Wednesday, July 9th. They set a "hold" rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Teck Resources presently has an average rating of "Moderate Buy" and an average target price of $56.88.

Teck Resources Stock Up 0.6%

NYSE TECK traded up $0.25 on Friday, reaching $41.91. The stock had a trading volume of 6,614,480 shares, compared to its average volume of 6,565,766. The business has a 50 day moving average price of $35.00 and a 200 day moving average price of $36.48. The company has a current ratio of 3.47, a quick ratio of 2.45 and a debt-to-equity ratio of 0.15. Teck Resources Ltd has a 1 year low of $28.32 and a 1 year high of $54.13. The company has a market capitalization of $20.13 billion, a price-to-earnings ratio of 110.29, a P/E/G ratio of 0.62 and a beta of 0.78.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last issued its earnings results on Thursday, July 24th. The basic materials company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. Teck Resources had a return on equity of 3.91% and a net margin of 2.51%.The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The business's quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts forecast that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.0918 dividend. This is an increase from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.37 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, September 15th. Teck Resources's payout ratio is presently 94.74%.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.