Teekay (NYSE:TK) CFO Sells $66,825.00 in Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 5,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $12.15, for a total value of $66,825.00. Following the completion of the transaction, the chief financial officer directly owned 3,364 shares of the company’s stock, valued at approximately $40,872.60. This trade represents a 62.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Teekay Trading Up 3.7%

TK stock traded up $0.45 during midday trading on Friday, hitting $12.33. The stock had a trading volume of 67,175 shares, compared to its average volume of 589,081. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 8.16 and a beta of 0.19. Teekay Corporation Ltd. has a 52 week low of $7.11 and a 52 week high of $14.38. The stock has a 50-day simple moving average of $12.72 and a 200 day simple moving average of $11.27.

Teekay (NYSE:TK) last issued its earnings results on Wednesday, May 13th. The shipping company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.11 by $0.44. The firm had revenue of $285.82 million during the quarter, compared to analysts’ expectations of $285.82 million. Teekay had a return on equity of 6.36% and a net margin of 13.03%.

Teekay Announces Dividend

The business also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were paid a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th. Teekay’s dividend payout ratio is currently 16.56%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Teekay from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings lowered Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Trading of Teekay

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Teekay by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,405,895 shares of the shipping company’s stock worth $66,004,000 after purchasing an additional 79,826 shares during the period. Allspring Global Investments Holdings LLC increased its position in Teekay by 58.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock worth $33,796,000 after purchasing an additional 1,029,977 shares during the period. American Century Companies Inc. increased 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 worth $19,641,000 after purchasing an additional 147,009 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Teekay by 5.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,215,192 shares of the shipping company’s stock worth $18,120,000 after purchasing an additional 110,755 shares during the period. Finally, Millennium Management LLC increased its position in Teekay by 88.5% in the third quarter. Millennium Management LLC now owns 1,420,284 shares of the shipping company’s stock worth $11,618,000 after purchasing an additional 666,990 shares during the period. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Teekay Company Profile

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.