Teekay (NYSE:TK) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Teekay shares crossed above its 200-day moving average of $10.55, trading as high as $13.50 and last at $13.3240 on volume of 359,608 shares.
• Wall Street Zen downgraded Teekay from a Buy to a Hold, and the stock's average rating on MarketBeat is currently "Hold."
• The company has a $1.15 billion market cap and 11.79 P/E, reported quarterly EPS of $0.37 on $243.09 million revenue (net margin 10.33%), and institutional investors own about 46.73% with several funds recently adding or initiating positions.

Teekay Corporation Ltd. (NYSE:TK - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.55 and traded as high as $13.50. Teekay shares last traded at $13.3240, with a volume of 359,608 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Teekay from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

Teekay Trading Up 0.1%

The company has a market cap of $1.15 billion, a price-to-earnings ratio of 11.79 and a beta of 0.18. The company's 50 day moving average price is $12.30 and its 200 day moving average price is $10.55.

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

Institutional Trading of Teekay

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management lifted its stake in shares of Teekay by 3.0% in the first quarter. Ritholtz Wealth Management now owns 159,128 shares of the shipping company's stock valued at $1,943,000 after purchasing an additional 4,630 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Teekay in the first quarter valued at about $457,000. Diversified Trust Co lifted its stake in shares of Teekay by 8.9% in the first quarter. Diversified Trust Co now owns 28,128 shares of the shipping company's stock valued at $343,000 after purchasing an additional 2,306 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Teekay in the fourth quarter valued at about $630,000. Finally, DGS Capital Management LLC lifted its stake in shares of Teekay by 5.2% in the fourth quarter. DGS Capital Management LLC now owns 66,414 shares of the shipping company's stock valued at $600,000 after purchasing an additional 3,261 shares during the period. 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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