Teekay Corporation Ltd. (NYSE:TK - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.11 and traded as high as $13.43. Teekay shares last traded at $13.4050, with a volume of 481,004 shares traded.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on TK shares. Wall Street Zen raised shares of Teekay from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Weiss Ratings cut shares of Teekay from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Teekay currently has a consensus rating of "Hold".
Read Our Latest Stock Analysis on TK
Teekay Price Performance
The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 6.44 and a beta of 0.25. The firm has a 50 day moving average price of $11.56 and a 200-day moving average price of $12.11.
Teekay (NYSE:TK - Get Free Report) last released its earnings results on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 7.91% and a net margin of 15.78%.During the same period last year, the firm earned $0.22 earnings per share.
Insider Buying and Selling
In other news, CFO Brody Speers sold 5,500 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $12.15, for a total transaction of $66,825.00. Following the completion of the transaction, the chief financial officer directly owned 3,364 shares of the company's stock, valued at approximately $40,872.60. The trade was a 62.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Simon Heidi Locke sold 18,119 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $12.37, for a total transaction of $224,132.03. Following the sale, the director owned 47,582 shares in the company, valued at $588,589.34. The trade was a 27.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 454,206 shares of company stock worth $5,541,325. 2.38% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Teekay
Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Teekay in the 2nd quarter valued at $33,000. Transamerica Financial Advisors LLC grew its stake in shares of Teekay by 250.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company's stock worth $40,000 after purchasing an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Teekay in the fourth quarter valued at $43,000. Cubist Systematic Strategies LLC purchased a new position in Teekay in the first quarter valued at $48,000. Finally, CWM LLC raised its stake in Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company's stock valued at $51,000 after buying an additional 1,449 shares in the last quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.
Teekay Company Profile
(
Get Free Report)
Teekay Corporation NYSE: TK is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.
Teekay's core business is organized into three operating segments.
Further Reading
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