Wells Fargo & Company MN Buys 28,365 Shares of Teekay Corporation (TK)
Wells Fargo & Company MN lifted its holdings in Teekay Corporation (NYSE:TK) by 65.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,609 shares of the company’s stock after purchasing an additional 28,365 shares during the period. Wells Fargo & Company MN owned about 0.08% of Teekay Corporation worth $477,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its holdings in Teekay Corporation by 12.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 746,536 shares of the company’s stock worth $4,980,000 after buying an additional 82,667 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Teekay Corporation by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 614,567 shares of the company’s stock worth $5,624,000 after buying an additional 12,881 shares during the last quarter. Cedar Capital LLC boosted its holdings in Teekay Corporation by 40.0% in the 2nd quarter. Cedar Capital LLC now owns 451,609 shares of the company’s stock worth $3,012,000 after buying an additional 128,993 shares during the last quarter. Bank of America Corp DE boosted its holdings in Teekay Corporation by 333.1% in the 1st quarter. Bank of America Corp DE now owns 412,008 shares of the company’s stock worth $3,770,000 after buying an additional 316,885 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Teekay Corporation by 11.6% in the 1st quarter. Geode Capital Management LLC now owns 395,181 shares of the company’s stock worth $3,615,000 after buying an additional 41,127 shares during the last quarter. Hedge funds and other institutional investors own 31.46% of the company’s stock.
Several research firms recently issued reports on TK. Zacks Investment Research cut Teekay Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. ValuEngine cut Teekay Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub upgraded Teekay Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $8.00 target price on shares of Teekay Corporation in a report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of C$7.00.
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Teekay Corporation (NYSE:TK) opened at C$9.12 on Monday. Teekay Corporation has a twelve month low of C$5.14 and a twelve month high of C$11.77. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.55 and a quick ratio of 0.55.
Teekay Corporation (NYSE:TK) last released its quarterly earnings data on Thursday, November 9th. The company reported C($0.41) EPS for the quarter, beating analysts’ consensus estimates of C($0.44) by C$0.03. Teekay Corporation had a negative return on equity of 3.18% and a negative net margin of 6.66%. The firm had revenue of C$500.80 million for the quarter, compared to analysts’ expectations of C$475.32 million. During the same period in the prior year, the firm posted ($0.23) earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. research analysts anticipate that Teekay Corporation will post -1.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, November 3rd will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, November 2nd. Teekay Corporation’s dividend payout ratio is presently -13.33%.
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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