Key Points
- Teekay director Rudolph Krediet sold 41,457 shares at an average price of $11.45, generating $474,682.65 and reducing his position by 54.1% to 35,167 shares. He also sold 63,042 shares in June.
- Teekay reported quarterly EPS of $0.79, significantly above the $0.11 analyst consensus, on revenue of $379.12 million. The company also paid a special dividend of $1.00 per share.
- Teekay shares opened at $11.78, with a market capitalization of about $1.02 billion; analysts currently have an average “Hold” rating, while institutional investors own 46.73% of the stock.
Teekay Corporation Ltd. (NYSE:TK - Get Free Report) Director Rudolph Krediet sold 41,457 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $11.45, for a total value of $474,682.65. Following the sale, the director owned 35,167 shares in the company, valued at approximately $402,662.15. This represents a 54.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Rudolph Krediet also recently made the following trade(s):
- On Wednesday, June 17th, Rudolph Krediet sold 63,042 shares of Teekay stock. The stock was sold at an average price of $11.80, for a total value of $743,895.60.
Teekay Stock Performance
Shares of NYSE TK opened at $11.78 on Tuesday. The stock has a market cap of $1.02 billion, a PE ratio of 5.67 and a beta of 0.23. Teekay Corporation Ltd. has a fifty-two week low of $7.22 and a fifty-two week high of $14.38. The stock has a fifty day moving average of $11.32 and a 200-day moving average of $11.75.
Teekay (NYSE:TK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The shipping company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.68. The business had revenue of $379.12 million for the quarter, compared to analysts' expectations of $379.12 million. Teekay had a return on equity of 8.40% and a net margin of 15.78%.During the same quarter in the prior year, the firm posted $0.22 EPS.
Teekay Announces Dividend
The business also recently declared a special dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were given a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on TK shares. Weiss Ratings lowered shares of Teekay from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, July 17th. Wall Street Zen cut shares of Teekay from a "buy" rating to a "hold" rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Teekay currently has an average rating of "Hold".
View Our Latest Analysis on Teekay
Hedge Funds Weigh In On Teekay
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TK. Cubist Systematic Strategies LLC purchased a new stake in shares of Teekay in the 1st quarter valued at about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Teekay by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company's stock valued at $213,000 after acquiring an additional 1,404 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Teekay by 153.8% during the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company's stock worth $7,807,000 after purchasing an additional 720,093 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Teekay during the first quarter worth about $267,000. Finally, Jane Street Group LLC increased its position in shares of Teekay by 82.3% in the first quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company's stock worth $1,052,000 after purchasing an additional 72,240 shares during the last quarter. 46.73% of the stock is currently owned by hedge funds and other institutional investors.
About Teekay
(
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.
Recommended Stories
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].
