Teekay Corporation (TK) Shares Sold by UBS Group AG
UBS Group AG decreased its stake in Teekay Corporation (NYSE:TK) by 60.7% during the first quarter, Holdings Channel reports. The institutional investor owned 17,831 shares of the shipping company’s stock after selling 27,483 shares during the period. UBS Group AG’s holdings in Teekay Corporation were worth $163,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of TK. Dimensional Fund Advisors LP increased its position in shares of Teekay Corporation by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 614,567 shares of the shipping company’s stock valued at $5,624,000 after buying an additional 12,881 shares in the last quarter. Plancorp LLC acquired a new position in shares of Teekay Corporation during the first quarter valued at approximately $169,000. Geode Capital Management LLC increased its position in shares of Teekay Corporation by 11.6% in the first quarter. Geode Capital Management LLC now owns 395,181 shares of the shipping company’s stock valued at $3,615,000 after buying an additional 41,127 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Teekay Corporation by 10.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,994 shares of the shipping company’s stock valued at $174,000 after buying an additional 1,816 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Teekay Corporation by 2.9% in the first quarter. California Public Employees Retirement System now owns 287,800 shares of the shipping company’s stock valued at $2,633,000 after buying an additional 8,200 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.
Teekay Corporation (TK) traded down 1.281% during mid-day trading on Wednesday, reaching $9.635. The company had a trading volume of 522,948 shares. Teekay Corporation has a one year low of $5.14 and a one year high of $11.77. The company’s 50-day moving average is $7.49 and its 200-day moving average is $8.44. The stock’s market capitalization is $831.11 million.
Teekay Corporation (NYSE:TK) last announced its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by $0.07. Teekay Corporation had a negative net margin of 5.66% and a negative return on equity of 2.80%. The firm had revenue of $513.90 million for the quarter, compared to the consensus estimate of $503.65 million. During the same period last year, the company posted $0.01 earnings per share. Teekay Corporation’s revenue for the quarter was down 12.5% on a year-over-year basis. Equities research analysts anticipate that Teekay Corporation will post ($1.36) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.25%. The ex-dividend date is Wednesday, August 2nd. Teekay Corporation’s dividend payout ratio (DPR) is -15.38%.
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Several brokerages have recently commented on TK. BidaskClub upgraded Teekay Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Royal Bank Of Canada reiterated a “hold” rating on shares of Teekay Corporation in a research note on Friday, June 16th. Morgan Stanley downgraded Teekay Corporation from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $3.00 in a research note on Friday, June 9th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $7.00 target price on shares of Teekay Corporation in a research note on Friday, May 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Teekay Corporation currently has a consensus rating of “Hold” and an average 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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