JPMorgan Chase & Co. Decreases Stake in Teekay Corporation Ltd. $TK

JPMorgan Chase & Co. reduced its holdings in shares of Teekay Corporation Ltd. (NYSE:TK) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,917,232 shares of the shipping company’s stock after selling 66,520 shares during the quarter. JPMorgan Chase & Co. owned 2.09% of Teekay worth $15,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of TK. Caprock Group LLC bought a new position in Teekay during the 3rd quarter valued at about $120,000. MQS Management LLC raised its holdings in shares of Teekay by 278.2% during the third quarter. MQS Management LLC now owns 43,823 shares of the shipping company’s stock valued at $358,000 after purchasing an additional 32,235 shares during the last quarter. Versor Investments LP bought a new position in Teekay during the third quarter valued at approximately $188,000. Envestnet Asset Management Inc. lifted its position in Teekay by 31.0% during the third quarter. Envestnet Asset Management Inc. now owns 195,470 shares of the shipping company’s stock valued at $1,599,000 after purchasing an additional 46,265 shares during the period. Finally, State of Wyoming boosted its holdings in Teekay by 30.5% in the third quarter. State of Wyoming now owns 38,831 shares of the shipping company’s stock worth $318,000 after purchasing an additional 9,071 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors.

Teekay Trading Down 2.3%

Shares of TK stock opened at $12.59 on Wednesday. Teekay Corporation Ltd. has a 12 month low of $5.65 and a 12 month high of $13.76. The stock has a market cap of $1.16 billion, a P/E ratio of 11.14 and a beta of 0.13. The company has a 50 day simple moving average of $10.39 and a two-hundred day simple moving average of $9.42.

Teekay (NYSE:TK) last issued its quarterly 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%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

About Teekay

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.