Shares of Teekay Co. (NYSE:TK - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $7.45, but opened at $8.10. Teekay shares last traded at $8.56, with a volume of 385,401 shares.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Teekay from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 28th.
Check Out Our Latest Report on TK
Teekay Price Performance
The stock's 50 day simple moving average is $8.57 and its two-hundred day simple moving average is $8.49. The firm has a market cap of $769.13 million, a P/E ratio of 5.64 and a beta of 0.60.
Teekay (NYSE:TK - Get Free Report) last announced its earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share for the quarter. Teekay had a net margin of 11.18% and a return on equity of 7.03%. The business had revenue of $326.14 million during the quarter.
Teekay Announces Dividend
The firm also recently announced a -- dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, December 4th. Teekay's dividend payout ratio is 16.67%.
Institutional Investors Weigh In On Teekay
Several institutional investors and hedge funds have recently made changes to their positions in TK. Denali Advisors LLC bought a new stake in shares of Teekay during the first quarter valued at approximately $146,000. Principal Financial Group Inc. purchased a new stake in Teekay in the first quarter worth approximately $161,000. Daiwa Securities Group Inc. boosted its holdings in Teekay by 604.0% in the first quarter. Daiwa Securities Group Inc. now owns 17,600 shares of the shipping company's stock worth $128,000 after purchasing an additional 15,100 shares during the last quarter. LSV Asset Management boosted its holdings in Teekay by 23.3% in the first quarter. LSV Asset Management now owns 87,100 shares of the shipping company's stock worth $634,000 after purchasing an additional 16,455 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Teekay by 8.2% in the first quarter. Empowered Funds LLC now owns 597,898 shares of the shipping company's stock worth $4,353,000 after purchasing an additional 45,292 shares during the last quarter. Institutional investors own 46.73% of the company's stock.
Teekay Company Profile
(
Get Free Report)
Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.
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