Teekay Corporation (TK) Shares Bought by State Street Corp
State Street Corp raised its holdings in Teekay Corporation (NYSE:TK) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,185,982 shares of the shipping company’s stock after purchasing an additional 43,160 shares during the period. State Street Corp owned about 1.37% of Teekay worth $7,910,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Alliancebernstein L.P. lifted its position in shares of Teekay by 8.6% in the first quarter. Alliancebernstein L.P. now owns 71,700 shares of the shipping company’s stock valued at $656,000 after acquiring an additional 5,700 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Teekay 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 acquiring an additional 41,127 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Teekay 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 acquiring an additional 12,881 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Teekay by 24.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 663,869 shares of the shipping company’s stock valued at $6,075,000 after acquiring an additional 128,902 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Teekay by 333.1% in the first quarter. Bank of America Corp DE now owns 412,008 shares of the shipping company’s stock valued at $3,770,000 after acquiring an additional 316,885 shares in the last quarter. 27.94% of the stock is currently owned by institutional investors.
Shares of Teekay Corporation (TK) traded up $0.05 during trading on Thursday, reaching $8.56. The company had a trading volume of 483,100 shares, compared to its average volume of 1,425,006. Teekay Corporation has a 52-week low of $5.14 and a 52-week high of $11.77. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.28.
Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.41) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.03. Teekay had a negative return on equity of 3.48% and a negative net margin of 6.66%. The firm had revenue of $500.80 million for the quarter, compared to the consensus estimate of $475.32 million. During the same quarter last year, the business posted ($0.23) earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. research analysts predict that Teekay Corporation will post -1.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd were given a $0.055 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.57%. Teekay’s dividend payout ratio is currently -13.50%.
A number of equities analysts recently commented on TK shares. Zacks Investment Research upgraded Teekay from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. Jefferies Group reiterated a “hold” rating and set a $8.00 price objective on shares of Teekay in a research report on Thursday, October 12th. BidaskClub upgraded Teekay from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine downgraded Teekay from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Teekay currently has an average rating of “Hold” and an average price target of $7.00.
Teekay Company Profile
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.
Receive News & Ratings for Teekay Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Corporation and related companies with MarketBeat.com's FREE daily email newsletter.