Eagle Global Advisors LLC reduced its stake in shares of Teekay Corporation (NYSE:TK) by 14.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,693,628 shares of the shipping company’s stock after selling 281,600 shares during the period. Eagle Global Advisors LLC owned approximately 1.96% of Teekay Corporation worth $11,296,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its position in Teekay Corporation by 50.3% in the fourth quarter. State Street Corp now owns 1,180,008 shares of the shipping company’s stock valued at $9,473,000 after buying an additional 394,726 shares during the last quarter. Guggenheim Capital LLC increased its position in Teekay Corporation by 10.1% in the fourth quarter. Guggenheim Capital LLC now owns 258,811 shares of the shipping company’s stock valued at $2,078,000 after buying an additional 23,803 shares during the last quarter. Teachers Advisors LLC increased its position in Teekay Corporation by 9.1% in the fourth quarter. Teachers Advisors LLC now owns 92,892 shares of the shipping company’s stock valued at $746,000 after buying an additional 7,754 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Teekay Corporation during the fourth quarter valued at approximately $696,000. Finally, Creative Planning increased its position in Teekay Corporation by 538.9% in the first quarter. Creative Planning now owns 21,500 shares of the shipping company’s stock valued at $197,000 after buying an additional 18,135 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.
Teekay Corporation (NYSE TK) traded up 3.93% during midday trading on Friday, reaching $9.53. The company’s stock had a trading volume of 1,334,643 shares. The company’s market cap is $822.05 million. Teekay Corporation has a 12 month low of $5.14 and a 12 month high of $11.77. The stock has a 50-day moving average price of $8.07 and a 200 day moving average price of $8.44.
Teekay Corporation (NYSE:TK) last issued its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by $0.07. The firm had revenue of $513.90 million for the quarter, compared to the consensus estimate of $503.65 million. Teekay Corporation had a negative net margin of 5.66% and a negative return on equity of 2.80%. The business’s revenue was down 12.5% on a year-over-year basis. During the same period last year, the company posted $0.01 earnings per share. Analysts expect that Teekay Corporation will post ($1.11) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Friday, August 4th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, August 2nd. Teekay Corporation’s dividend payout ratio (DPR) is -15.38%.
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Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. BidaskClub upgraded Teekay Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $8.50 price target on shares of Teekay Corporation in a research note on Tuesday, May 2nd. Royal Bank Of Canada reiterated a “hold” rating on shares of Teekay Corporation in a research note on Tuesday, May 9th. Finally, ValuEngine upgraded Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Teekay Corporation has an average rating of “Hold” and a consensus price target of $5.33.
About Teekay Corporation
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.
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