Key Points
- Teekay director Simon Heidi Locke sold 1,000 shares at an average price of $13.64, totaling $13,640. Following the transaction, Locke retained 46,001 shares, a 2.13% reduction in direct ownership.
- Teekay reported quarterly EPS of $0.79, significantly exceeding the $0.11 analyst consensus and up from $0.22 a year earlier. The company had a 15.78% net margin and 7.91% return on equity.
- Teekay shares opened at $13.20, near their 52-week high of $14.38, while analyst sentiment remained mixed with a consensus “Hold” rating. Institutional investors owned 46.73% of the company, with several funds recently increasing their stakes.
Teekay Corporation Ltd. (NYSE:TK - Get Free Report) Director Simon Heidi Locke sold 1,000 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $13.64, for a total transaction of $13,640.00. Following the transaction, the director directly owned 46,001 shares in the company, valued at approximately $627,453.64. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Simon Heidi Locke also recently made the following trade(s):
- On Thursday, August 20th, Simon Heidi Locke sold 485 shares of Teekay stock. The stock was sold at an average price of $13.24, for a total transaction of $6,421.40.
- On Wednesday, August 19th, Simon Heidi Locke sold 96 shares of Teekay stock. The stock was sold at an average price of $13.19, for a total transaction of $1,266.24.
- On Monday, June 22nd, Simon Heidi Locke sold 18,119 shares of Teekay stock. The shares were sold at an average price of $12.37, for a total transaction of $224,132.03.
Teekay Price Performance
Shares of NYSE TK opened at $13.20 on Friday. Teekay Corporation Ltd. has a 1 year low of $7.80 and a 1 year high of $14.38. The stock has a market capitalization of $1.15 billion, a P/E ratio of 6.35 and a beta of 0.23. The company's 50-day moving average is $11.41 and its 200 day moving average is $11.96.
Teekay (NYSE:TK - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The shipping company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.11 by $0.68. Teekay had a net margin of 15.78% and a return on equity of 7.91%. During the same period last year, the firm earned $0.22 earnings per share.
Analysts Set New Price Targets
Several brokerages recently weighed in on TK. Wall Street Zen raised Teekay from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings lowered Teekay from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold".
Get Our Latest Analysis on Teekay
Institutional Investors Weigh In On Teekay
Several hedge funds have recently added to or reduced their stakes in the stock. Mercuria Capital Strategies LLC bought a new stake in Teekay during the 4th quarter valued at about $11,091,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Teekay by 58.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company's stock worth $33,796,000 after buying an additional 1,029,977 shares in 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 valued at $7,807,000 after buying an additional 720,093 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Teekay during the fourth quarter valued at approximately $4,066,000. Finally, HRT Financial LP bought a new stake in shares of Teekay during the fourth quarter valued at approximately $2,996,000. 46.73% of the stock is owned by 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.
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