Key Points
- Director Simon Heidi Locke sold 18,119 Teekay shares on June 22 at an average price of $12.37, totaling about $224,132. After the sale, she still owned 47,582 shares, a 27.58% reduction in her position.
- Teekay recently posted stronger-than-expected quarterly earnings, reporting $0.55 per share versus the $0.11 consensus estimate. Revenue came in at $285.82 million, in line with expectations.
- The company paid a special $1.00 dividend to shareholders on June 2, with the record date and ex-dividend date both set for May 26. Teekay’s stock was trading around $12.35, near its recent moving averages and below its 52-week high of $14.38.
Teekay Corporation Ltd. (NYSE:TK - Get Free Report) Director Simon Heidi Locke sold 18,119 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $12.37, for a total transaction of $224,132.03. Following the transaction, the director directly owned 47,582 shares of the company's stock, valued at approximately $588,589.34. This represents a 27.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Teekay Stock Performance
Teekay stock opened at $12.35 on Tuesday. Teekay Corporation Ltd. has a fifty-two week low of $7.11 and a fifty-two week high of $14.38. The firm's fifty day moving average price is $12.64 and its 200-day moving average price is $11.39. The stock has a market cap of $1.07 billion, a P/E ratio of 8.18 and a beta of 0.19.
Teekay (NYSE:TK - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.44. The firm had revenue of $285.82 million for the quarter, compared to analysts' expectations of $285.82 million. Teekay had a return on equity of 6.36% and a net margin of 13.03%.
Teekay Announces Dividend
The company also recently announced a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were paid a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, May 26th.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its holdings in Teekay by 8.0% in the first quarter. Empowered Funds LLC now owns 511,686 shares of the shipping company's stock worth $6,248,000 after buying an additional 37,800 shares during the last quarter. Amundi increased its position in shares of Teekay by 55.5% during the 1st quarter. Amundi now owns 32,166 shares of the shipping company's stock valued at $393,000 after purchasing an additional 11,479 shares during the last quarter. Quantinno Capital Management LP raised its position in Teekay by 12.9% in the first quarter. Quantinno Capital Management LP now owns 39,869 shares of the shipping company's stock worth $487,000 after acquiring an additional 4,549 shares during the period. Sei Investments Co. raised its holdings in Teekay by 69.2% in the 1st quarter. Sei Investments Co. now owns 55,000 shares of the shipping company's stock worth $672,000 after purchasing an additional 22,486 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Teekay by 66.5% in the first quarter. Cetera Investment Advisers now owns 25,009 shares of the shipping company's stock worth $305,000 after buying an additional 9,992 shares during the period. Hedge funds and other institutional investors own 46.73% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of Teekay from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, June 8th. Wall Street Zen downgraded Teekay from a "buy" rating to a "hold" rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold".
Check Out Our Latest Report on TK
Teekay Company Profile
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
