Teekay (NYSE:TK) Hits New 12-Month High – Here’s What Happened

Teekay Corporation Ltd. (NYSE:TK) reached a new 52-week high on Wednesday . The company traded as high as $12.49 and last traded at $12.35, with a volume of 176474 shares. The stock had previously closed at $12.36.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Teekay in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Teekay Trading Up 0.4%

The stock’s 50 day moving average price is $10.25 and its two-hundred day moving average price is $9.32. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.79 and a beta of 0.20.

Teekay (NYSE:TK) last posted its earnings results on Wednesday, February 18th. The shipping company reported $0.40 earnings per share for the quarter. Teekay had a net margin of 10.33% and a return on equity of 5.02%.

Hedge Funds Weigh In On Teekay

A number of hedge funds have recently made changes to their positions in TK. State of Alaska Department of Revenue purchased a new stake in shares of Teekay during the third quarter worth about $27,000. Transamerica Financial Advisors LLC grew its stake in Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Teekay during the 4th quarter worth approximately $43,000. Cubist Systematic Strategies LLC acquired a new position in shares of Teekay in the 1st quarter valued at approximately $48,000. Finally, CWM LLC boosted its stake in shares of Teekay by 34.2% during the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after buying an additional 1,449 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

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.