Teekay Co. (NYSE:TK)’s share price was up 7.7% on Monday . The company traded as high as $4.23 and last traded at $4.21. Approximately 1,210,520 shares traded hands during trading, an increase of 75% from the average daily volume of 689,972 shares. The stock had previously closed at $3.91.
Several equities analysts recently issued reports on the company. ValuEngine upgraded Teekay from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Zacks Investment Research upgraded Teekay from a “sell” rating to a “hold” rating in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $7.50.
The stock has a market capitalization of $392.70 million, a price-to-earnings ratio of -7.94 and a beta of 1.42. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.37 and a quick ratio of 1.16.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Teekay by 1.2% during the third quarter. BlackRock Inc. now owns 3,331,701 shares of the shipping company’s stock valued at $22,455,000 after purchasing an additional 38,946 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Teekay by 60.8% during the third quarter. Virtu Financial LLC now owns 21,068 shares of the shipping company’s stock valued at $142,000 after purchasing an additional 7,962 shares in the last quarter. Cedar Capital LLC boosted its position in shares of Teekay by 30.7% during the fourth quarter. Cedar Capital LLC now owns 362,306 shares of the shipping company’s stock valued at $1,210,000 after purchasing an additional 85,017 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Teekay by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 719,012 shares of the shipping company’s stock valued at $4,846,000 after purchasing an additional 144,043 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Teekay during the third quarter valued at approximately $283,000. Hedge funds and other institutional investors own 23.02% of the company’s stock.
About Teekay (NYSE:TK)
Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers, floating storage and offloading (FSO) units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects.
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