Key Points
- Teekay director Rudolph Krediet sold 63,042 shares on June 17 at an average price of $11.80, generating about $743,895.60. After the sale, he still held 35,167 shares, a 64.19% reduction in his stake.
- The stock fell 3.1% and opened Thursday at $11.74, with a market cap of about $1.02 billion and a low beta of 0.19. Its 50-day moving average is $12.67 versus a 200-day moving average of $11.33.
- Teekay recently beat earnings expectations, reporting $0.55 EPS versus the $0.11 consensus estimate, and it also paid a special $1.00 dividend on June 2. Wall Street’s current consensus rating on the stock is Hold.
Teekay Corporation Ltd. (NYSE:TK - Get Free Report) Director Rudolph Krediet sold 63,042 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $11.80, for a total value of $743,895.60. Following the sale, the director owned 35,167 shares in the company, valued at approximately $414,970.60. This trade represents a 64.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Teekay Trading Down 3.1%
NYSE:TK opened at $11.74 on Thursday. The stock has a market cap of $1.02 billion, a P/E ratio of 7.77 and a beta of 0.19. The stock's 50-day moving average is $12.67 and its 200-day moving average is $11.33. Teekay Corporation Ltd. has a 1-year low of $7.11 and a 1-year high of $14.38.
Teekay (NYSE:TK - Get Free Report) last announced its earnings results on Wednesday, May 13th. The shipping company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.11 by $0.44. Teekay had a return on equity of 6.36% and a net margin of 13.03%.The business had revenue of $285.82 million for the quarter, compared to analysts' expectations of $285.82 million.
Teekay Announces Dividend
The business also recently announced a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were issued a $1.00 dividend. The ex-dividend date was Tuesday, May 26th.
Wall Street Analyst Weigh In
Several brokerages recently commented on TK. Wall Street Zen cut Teekay from a "buy" rating to a "hold" rating in a report on Saturday, May 23rd. Weiss Ratings cut Teekay from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, June 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".
Read Our Latest Stock Report on Teekay
Hedge Funds Weigh In On Teekay
A number of institutional investors and hedge funds have recently modified their holdings of TK. Transamerica Financial Advisors LLC boosted its holdings in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company's stock worth $40,000 after buying an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Teekay during the fourth quarter worth approximately $43,000. Cubist Systematic Strategies LLC purchased a new stake in Teekay in the 1st quarter valued at $48,000. CWM LLC raised its position in Teekay by 34.2% in the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company's stock valued at $51,000 after buying an additional 1,449 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Teekay by 194.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company's stock valued at $63,000 after buying an additional 5,022 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors.
Teekay Company Profile
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Get Free Report)
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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