Teekay (NYSE:TK) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Teekay (NYSE:TK) shares crossed above their 200‑day moving average of $10.35, trading as high as $13.10 and last at $13.01 on a volume of 386,263 shares.
• Analysts have an average rating of "Hold" on TK — Wall Street Zen recently cut it from Buy to Hold, while Weiss Ratings reaffirmed a "Hold (c-)."
• The company has a market cap of $1.12 billion and a P/E of 11.52, reported quarterly EPS of $0.37 on $243.09 million in revenue, and institutional investors own 46.73% with several funds increasing their positions.

Teekay Corporation Ltd. (NYSE:TK - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.35 and traded as high as $13.10. Teekay shares last traded at $13.0130, with a volume of 386,263 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on TK. Wall Street Zen cut Teekay from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Teekay in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

Teekay Stock Up 0.3%

The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 11.52 and a beta of 0.18. The stock's 50 day moving average is $12.10 and its 200 day moving average is $10.35.

Teekay (NYSE:TK - Get Free Report) last posted its quarterly earnings data on Friday, March 13th. The shipping company reported $0.37 EPS for the quarter. The business had revenue of $243.09 million for the quarter. Teekay had a net margin of 10.33% and a return on equity of 4.76%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Teekay by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,326,069 shares of the shipping company's stock worth $48,094,000 after buying an additional 48,309 shares during the last quarter. American Century Companies Inc. grew its position in Teekay by 6.5% during the 3rd quarter. American Century Companies Inc. now owns 2,401,121 shares of the shipping company's stock worth $19,641,000 after purchasing an additional 147,009 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Teekay by 5.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,215,192 shares of the shipping company's stock worth $18,120,000 after purchasing an additional 110,755 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Teekay by 25.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,753,892 shares of the shipping company's stock worth $15,469,000 after purchasing an additional 359,376 shares in the last quarter. Finally, Millennium Management LLC grew its position in Teekay by 88.5% during the 3rd quarter. Millennium Management LLC now owns 1,420,284 shares of the shipping company's stock worth $11,618,000 after purchasing an additional 666,990 shares in the last quarter. Institutional investors and hedge funds own 46.73% of the company's stock.

Teekay Company Profile

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.

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