American International Group Inc. raised its position in Teekay Corporation (NYSE:TK) by 17.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,629 shares of the shipping company’s stock after buying an additional 4,359 shares during the period. American International Group Inc.’s holdings in Teekay Corporation were worth $271,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the company. Cedar Capital LLC purchased a new position in Teekay Corporation during the first quarter worth about $2,952,000. Gargoyle Investment Advisor L.L.C. bought a new stake in shares of Teekay Corporation during the first quarter valued at $161,000. Bank of New York Mellon Corp boosted its stake in shares of Teekay Corporation by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company’s stock valued at $2,351,000 after buying an additional 7,475 shares in the last quarter. Geneva Advisors LLC boosted its stake in shares of Teekay Corporation by 10.6% in the first quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,057 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Teekay Corporation during the first quarter valued at $154,000. Institutional investors and hedge funds own 46.41% of the company’s stock.
Shares of Teekay Corporation (TK) traded up 1.83% during mid-day trading on Friday, reaching $8.92. The company’s stock had a trading volume of 994,192 shares. Teekay Corporation has a one year low of $5.14 and a one year high of $11.77. The firm’s 50 day moving average is $8.45 and its 200 day moving average is $8.38. The firm’s market cap is $769.43 million.
Teekay Corporation (NYSE:TK) last issued its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.07. Teekay Corporation had a negative net margin of 5.66% and a negative return on equity of 2.80%. The business had revenue of $513.90 million during the quarter, compared to analysts’ expectations of $503.65 million. During the same period in the prior year, the business earned $0.01 EPS. The business’s quarterly revenue was down 12.5% on a year-over-year basis. On average, equities analysts anticipate that Teekay Corporation will post ($1.11) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Friday, August 4th were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.22 annualized dividend and a dividend yield of 2.47%. Teekay Corporation’s dividend payout ratio (DPR) is currently -15.38%.
TK has been the subject of several research analyst reports. Morgan Stanley cut Teekay Corporation from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $8.00 to $3.00 in a report on Friday, June 9th. BidaskClub cut Teekay Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating on shares of Teekay Corporation in a research report on Friday, June 16th. Jefferies Group LLC reissued a “hold” rating and issued a $7.00 target price on shares of Teekay Corporation in a research report on Friday, May 19th. Finally, ValuEngine raised Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $5.33.
Teekay Corporation Company Profile
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.
What are top analysts saying about Teekay Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Teekay Corporation and related companies.