Teekay Corporation Ltd. (NYSE:TK - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.87 and traded as high as $8.47. Teekay shares last traded at $8.43, with a volume of 529,614 shares.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Teekay in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".
View Our Latest Stock Report on Teekay
Teekay Stock Up 2.1%
The firm has a market capitalization of $774.18 million, a price-to-earnings ratio of 5.98 and a beta of 0.42. The business has a 50-day moving average of $8.17 and a two-hundred day moving average of $7.87.
Institutional Trading of Teekay
Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in Teekay by 130.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,983,752 shares of the shipping company's stock worth $16,366,000 after purchasing an additional 1,122,843 shares during the period. Pacer Advisors Inc. bought a new position in Teekay in the 1st quarter valued at about $4,758,000. Millennium Management LLC raised its holdings in Teekay by 153.8% in the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company's stock valued at $7,807,000 after acquiring an additional 720,093 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Teekay by 40.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,104,437 shares of the shipping company's stock worth $17,362,000 after purchasing an additional 604,666 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Teekay during the 1st quarter worth approximately $3,242,000. Institutional investors own 46.73% of the company's stock.
About Teekay
(
Get Free Report)
Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.
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