Brody Speers Sells 5,500 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 5,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $12.15, for a total value of $66,825.00. Following the transaction, the chief financial officer owned 3,364 shares in the company, valued at approximately $40,872.60. This trade represents a 62.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Teekay Stock Performance

TK traded up $0.45 during midday trading on Friday, reaching $12.33. 67,175 shares of the company were exchanged, compared to its average volume of 589,081. Teekay Corporation Ltd. has a one year low of $7.11 and a one year high of $14.38. The stock has a market capitalization of $1.07 billion, a P/E ratio of 8.16 and a beta of 0.19. The stock’s 50-day simple moving average is $12.72 and its 200 day simple moving average is $11.27.

Teekay (NYSE:TK) last issued its earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.44. Teekay had a return on equity of 6.36% and a net margin of 13.03%.The firm had revenue of $285.82 million for the quarter, compared to analysts’ expectations of $285.82 million.

Teekay Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were issued a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th. Teekay’s payout ratio is 16.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TK. Mercuria Capital Strategies LLC acquired a new position in shares of Teekay during the 4th quarter worth approximately $11,091,000. Allspring Global Investments Holdings LLC grew its holdings in Teekay by 58.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock valued at $33,796,000 after buying an additional 1,029,977 shares in the last quarter. Millennium Management LLC grew its holdings in Teekay by 153.8% in the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after buying an additional 720,093 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Teekay in the 4th quarter valued at $4,066,000. Finally, HRT Financial LP acquired a new position in Teekay in the 4th quarter valued at $2,996,000. 46.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings lowered Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen lowered Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

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.