Teekay (NYSE:TK) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Teekay (NYSE:TK) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat.com, the company currently has an average rating of “Hold”.

Teekay Stock Down 1.6%

Shares of TK opened at $11.49 on Friday. Teekay has a fifty-two week low of $5.65 and a fifty-two week high of $13.76. The company has a market cap of $1.05 billion, a P/E ratio of 10.17 and a beta of 0.13. The firm’s 50 day moving average price is $11.08 and its 200 day moving average price is $9.76.

Teekay (NYSE:TK) last released its earnings results on Friday, March 13th. The shipping company reported $0.37 earnings per share (EPS) for the quarter. The firm had revenue of $243.09 million during the quarter. Teekay had a return on equity of 4.76% and a net margin of 10.33%.

Institutional Investors Weigh In On Teekay

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Teekay by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,326,069 shares of the shipping company’s stock valued at $48,094,000 after buying an additional 48,309 shares during the period. American Century Companies Inc. grew its position in Teekay by 6.5% in the third quarter. American Century Companies Inc. now owns 2,401,121 shares of the shipping company’s stock valued at $19,641,000 after acquiring an additional 147,009 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Teekay by 5.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,215,192 shares of the shipping company’s stock valued at $18,120,000 after purchasing an additional 110,755 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Teekay by 130.4% during the second quarter. JPMorgan Chase & Co. now owns 1,983,752 shares of the shipping company’s stock valued at $16,366,000 after acquiring an additional 1,122,843 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Teekay by 25.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,753,892 shares of the shipping company’s stock worth $15,469,000 after purchasing an additional 359,376 shares during the last quarter. 46.73% of the stock is owned by institutional investors and hedge funds.

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.