Teekay (NYSE:TK) Shares Gap Up – Here’s What Happened

Teekay Corporation Ltd. (NYSE:TK) shares gapped up before the market opened on Monday . The stock had previously closed at $12.95, but opened at $13.75. Teekay shares last traded at $12.8440, with a volume of 185,570 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Teekay in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Teekay Stock Down 0.3%

The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 11.44 and a beta of 0.12. The business’s 50-day moving average is $10.25 and its two-hundred day moving average is $9.35.

Teekay (NYSE:TK) last released its earnings results on Wednesday, February 18th. The shipping company reported $0.40 earnings per share for the quarter. Teekay had a net margin of 10.33% and a return on equity of 5.02%.

Institutional Trading of Teekay

Hedge funds and other institutional investors have recently modified their holdings of the stock. DGS Capital Management LLC boosted its position in shares of Teekay by 5.2% during the 4th quarter. DGS Capital Management LLC now owns 66,414 shares of the shipping company’s stock valued at $600,000 after acquiring an additional 3,261 shares during the last quarter. Empowered Funds LLC raised its stake in Teekay by 0.5% during the fourth quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock worth $4,279,000 after purchasing an additional 2,382 shares during the period. Susquehanna Portfolio Strategies LLC boosted its holdings in Teekay by 44.2% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 125,619 shares of the shipping company’s stock valued at $1,134,000 after purchasing an additional 38,492 shares during the last quarter. Engineers Gate Manager LP grew its stake in shares of Teekay by 11.7% in the 4th quarter. Engineers Gate Manager LP now owns 30,504 shares of the shipping company’s stock valued at $275,000 after buying an additional 3,196 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Teekay during the 4th quarter worth approximately $639,000. 46.73% of the stock is owned by institutional investors and hedge funds.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.