Teekay Corp. (TK) Stock Price Up 4.9%
Teekay Corp. (NYSE:TK) shares rose 4.9% during mid-day trading on Monday . The stock traded as high as $6.86 and last traded at $6.83, with a volume of 1,220,348 shares. The stock had previously closed at $6.51.
TK has been the topic of several research analyst reports. Zacks Investment Research raised Teekay Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, April 27th. Jefferies Group set a $7.00 price objective on Teekay Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Wells Fargo & Co. reissued a “hold” rating on shares of Teekay Corp. in a research note on Thursday, July 7th. Morgan Stanley increased their price objective on Teekay Corp. from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 31st. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $6.00 price objective on shares of Teekay Corp. in a research note on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $14.25.
The stock’s 50 day moving average is $6.68 and its 200 day moving average is $8.26. The company’s market cap is $498.94 million.
Teekay Corp. (NYSE:TK) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. The firm had revenue of $587.60 million for the quarter, compared to analysts’ expectations of $558.42 million. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. Equities analysts forecast that Teekay Corp. will post ($0.35) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 17th. Stockholders of record on Friday, July 29th will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, July 27th.
An institutional investor recently bought a new position in Teekay Corp. stock. Trexquant Investment LP bought a new position in shares of Teekay Corp. (NYSE:TK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 115,439 shares of the company’s stock, valued at approximately $1,139,000. Trexquant Investment LP owned 0.16% of Teekay Corp. at the end of the most recent reporting 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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