Shares of Teekay Corp. (NYSE:TK) traded down 6.3% on Monday . The company traded as low as $5.81 and last traded at $5.81, with a volume of 1,512,836 shares. The stock had previously closed at $6.20.

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Teekay Corp. from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 31st. Zacks Investment Research raised shares of Teekay Corp. from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. Credit Suisse Group AG reaffirmed a “hold” rating and set a $6.00 target price on shares of Teekay Corp. in a report on Wednesday, May 25th. Jefferies Group reaffirmed a “hold” rating and set a $9.00 target price on shares of Teekay Corp. in a report on Wednesday, July 6th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Teekay Corp. in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $18.22.

The company’s 50-day moving average is $6.98 and its 200-day moving average is $8.25. The firm has a market cap of $412.49 million and a P/E ratio of 9.734.

Teekay Corp. (NYSE:TK) last posted its quarterly earnings data on Thursday, May 19th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.28. The firm had revenue of $641.10 million for the quarter, compared to analysts’ expectations of $605.60 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities research analysts forecast that Teekay Corp. will post ($0.06) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 17th. Investors of record on Friday, July 29th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $0.22 annualized dividend and a yield of 3.97%.

Other institutional investors have modified their holdings of the company. Russell Frank Co increased its position in shares of Teekay Corp. by 8.3% in the fourth quarter. Russell Frank Co now owns 210,073 shares of the company’s stock valued at $1,986,000 after buying an additional 16,027 shares during the period. California Public Employees Retirement System increased its position in shares of Teekay Corp. by 79.8% in the fourth quarter. California Public Employees Retirement System now owns 222,600 shares of the company’s stock valued at $2,197,000 after buying an additional 98,800 shares during the period. Trexquant Investment LP acquired a new position in shares of Teekay Corp. during the fourth quarter valued at $1,139,000. Finally, Morgan Stanley increased its position in shares of Teekay Corp. by 692.4% in the fourth quarter. Morgan Stanley now owns 1,472,248 shares of the company’s stock valued at $14,531,000 after buying an additional 1,286,450 shares during the period.

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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