Teekay (NYSE:TK) Issues Quarterly Earnings Results

Teekay (NYSE:TK) released its quarterly earnings results on Wednesday. The shipping company reported $0.40 EPS for the quarter, Zacks reports.

Teekay Stock Up 3.5%

Teekay stock traded up $0.41 during midday trading on Thursday, reaching $12.26. 61,917 shares of the stock traded hands, compared to its average volume of 555,086. The stock has a market cap of $1.13 billion, a P/E ratio of 8.64 and a beta of 0.20. The stock’s fifty day moving average is $9.81 and its 200-day moving average is $9.10. Teekay has a 12 month low of $5.65 and a 12 month high of $12.18.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Teekay in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Hedge Funds Weigh In On Teekay

Several institutional investors have recently bought and sold shares of TK. Dimensional Fund Advisors LP raised its stake in shares of Teekay by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,326,069 shares of the shipping company’s stock valued at $48,094,000 after acquiring an additional 48,309 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Teekay by 5.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,215,192 shares of the shipping company’s stock worth $18,120,000 after acquiring an additional 110,755 shares during the period. Millennium Management LLC lifted its stake in Teekay by 88.5% in the third quarter. Millennium Management LLC now owns 1,420,284 shares of the shipping company’s stock worth $11,618,000 after acquiring an additional 666,990 shares during the period. UBS Group AG grew its holdings in Teekay by 3.5% during the 3rd quarter. UBS Group AG now owns 1,304,519 shares of the shipping company’s stock worth $10,671,000 after acquiring an additional 43,574 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Teekay by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 841,886 shares of the shipping company’s stock valued at $6,887,000 after purchasing an additional 67,067 shares during the period. Institutional investors own 46.73% of the company’s stock.

Teekay Company Profile

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.