Teekay Corporation Ltd. (NYSE:TK - Get Free Report) shares fell 3.1% on Wednesday . The company traded as low as $7.70 and last traded at $7.70. 44,230 shares traded hands during trading, a decline of 94% from the average session volume of 804,066 shares. The stock had previously closed at $7.94.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered shares of Teekay from a "buy" rating to a "hold" rating in a report on Monday, May 19th.
View Our Latest Stock Analysis on Teekay
Teekay Price Performance
The company has a market capitalization of $710.29 million, a PE ratio of 5.49 and a beta of 0.47. The firm's fifty day simple moving average is $8.34 and its 200 day simple moving average is $7.35.
Teekay Announces Dividend
The firm also recently declared a -- dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd.
Institutional Investors Weigh In On Teekay
Several hedge funds have recently modified their holdings of TK. GAMMA Investing LLC boosted its stake in shares of Teekay by 381.8% during the 1st quarter. GAMMA Investing LLC now owns 4,139 shares of the shipping company's stock worth $27,000 after acquiring an additional 3,280 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Teekay during the 1st quarter worth about $48,000. Parallel Advisors LLC boosted its stake in shares of Teekay by 68.2% during the 1st quarter. Parallel Advisors LLC now owns 7,406 shares of the shipping company's stock worth $49,000 after acquiring an additional 3,002 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Teekay during the 4th quarter worth about $56,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Teekay during the 1st quarter worth about $59,000. 46.73% of the stock is owned by hedge funds and other institutional investors.
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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