Teekay Co. (NYSE:TK - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,260,000 shares, an increase of 33.0% from the March 15th total of 947,300 shares. Based on an average daily trading volume, of 710,700 shares, the short-interest ratio is presently 1.8 days. Currently, 2.5% of the shares of the stock are short sold.
Teekay Price Performance
Shares of TK stock traded up $0.20 during mid-day trading on Wednesday, hitting $6.66. The company had a trading volume of 675,941 shares, compared to its average volume of 727,851. The company has a market capitalization of $611.63 million, a P/E ratio of 4.72 and a beta of 0.47. The stock's 50 day moving average price is $6.54 and its 200-day moving average price is $7.13. Teekay has a 52-week low of $5.65 and a 52-week high of $9.95.
Teekay (NYSE:TK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.19 EPS for the quarter. Teekay had a net margin of 10.96% and a return on equity of 5.67%. The business had revenue of $161.63 million for the quarter.
Hedge Funds Weigh In On Teekay
Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Teekay by 108.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company's stock valued at $6,489,000 after acquiring an additional 367,527 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in Teekay during the fourth quarter valued at $295,000. MML Investors Services LLC purchased a new stake in Teekay during the third quarter valued at $100,000. New York State Common Retirement Fund grew its stake in shares of Teekay by 53.4% in the 4th quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company's stock worth $60,000 after buying an additional 3,000 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Teekay by 7.6% in the 4th quarter. Principal Financial Group Inc. now owns 30,012 shares of the shipping company's stock worth $208,000 after buying an additional 2,109 shares in the last quarter. Hedge funds and other 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.
Further Reading
Before you consider Teekay, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teekay wasn't on the list.
While Teekay currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
