Teekay (NYSE:TK) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

Teekay Corporation Ltd. (NYSE:TK)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $12.34 and traded as high as $14.26. Teekay shares last traded at $14.1230, with a volume of 554,826 shares.

Analyst Upgrades and Downgrades

TK has been the subject of a number of analyst reports. Weiss Ratings raised Teekay from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Wall Street Zen upgraded shares of Teekay from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Teekay has a consensus rating of “Buy”.

Teekay Stock Up 2.4%

The stock has a 50-day moving average of $12.87 and a 200 day moving average of $12.36. The company has a market capitalization of $1.27 billion, a PE ratio of 7.01 and a beta of 0.25.

Teekay (NYSE:TK) last announced its quarterly earnings data on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 7.91% and a net margin of 15.78%.During the same period in the prior year, the firm posted $0.22 earnings per share.

Insider Activity at Teekay

In other Teekay news, Director Rudolph Krediet sold 41,457 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $11.45, for a total value of $474,682.65. Following the completion of the sale, the director directly owned 35,167 shares of the company’s stock, valued at $402,662.15. This trade represents a 54.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Heidi Simon sold 11,585 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $14.08, for a total value of $163,116.80. Following the completion of the sale, the director owned 46,001 shares in the company, valued at approximately $647,694.08. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 190,257 shares of company stock worth $2,593,468. Company insiders own 2.38% of the company’s stock.

Institutional Investors Weigh In On Teekay

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in Teekay during the second quarter valued at about $33,000. Pinnacle Holdings LLC bought a new stake in shares of Teekay in the second quarter valued at approximately $62,000. AXQ Capital LP purchased a new stake in shares of Teekay during the 2nd quarter valued at approximately $133,000. Savant Capital LLC boosted its holdings in Teekay by 22.2% in the 4th quarter. Savant Capital LLC now owns 13,355 shares of the shipping company’s stock worth $121,000 after buying an additional 2,423 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Teekay in the 4th quarter valued at approximately $123,000. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a marine transportation company that provides international shipping services for the energy industry. Through its subsidiaries and affiliated companies, Teekay is primarily involved in the ownership and operation of crude oil and refined petroleum product tankers that transport energy commodities around the world.

The company’s fleet and commercial operations serve energy producers, refiners, commodity traders and other customers across major global shipping routes.