Metropolitan Life Insurance Co. NY maintained its position in shares of Teekay Corporation (NYSE:TK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,070 shares of the shipping company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Teekay Corporation were worth $303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TK. Geneva Advisors LLC boosted its position in shares of Teekay Corporation by 10.6% in the first quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,057 shares during the period. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Teekay Corporation during the first quarter valued at approximately $111,000. Nine Chapters Capital Management LLC purchased a new position in shares of Teekay Corporation during the first quarter valued at approximately $141,000. Russell Investments Group Ltd. purchased a new position in shares of Teekay Corporation during the first quarter valued at approximately $154,000. Finally, Gargoyle Investment Advisor L.L.C. purchased a new position in shares of Teekay Corporation during the first quarter valued at approximately $161,000. 46.41% of the stock is owned by hedge funds and other institutional investors.

Shares of Teekay Corporation (NYSE:TK) traded up 3.442% on Wednesday, reaching $9.165. The company had a trading volume of 298,820 shares. Teekay Corporation has a 52-week low of $5.14 and a 52-week high of $11.77. The company’s 50-day moving average price is $8.50 and its 200-day moving average price is $8.35. The firm’s market capitalization is $790.56 million.

Teekay Corporation (NYSE:TK) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.44) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.07. Teekay Corporation had a negative return on equity of 2.80% and a negative net margin of 5.66%. The company had revenue of $513.90 million during the quarter, compared to the consensus estimate of $503.65 million. During the same period in the previous year, the business earned $0.01 earnings per share. Teekay Corporation’s revenue was down 12.5% on a year-over-year basis. On average, analysts predict that Teekay Corporation will post ($1.11) earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Friday, August 4th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Wednesday, August 2nd. Teekay Corporation’s payout ratio is currently -15.38%.

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Several research analysts recently commented on the company. Zacks Investment Research raised Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub raised Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $8.50 target price on shares of Teekay Corporation in a research report on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Teekay Corporation in a research report on Tuesday, May 9th. Finally, ValuEngine raised Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Teekay Corporation 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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Institutional Ownership by Quarter for Teekay Corporation (NYSE:TK)

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