Teekay (NYSE:TK) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Teekay Corporation Ltd. (NYSE:TK) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.19 and traded as high as $11.65. Teekay shares last traded at $11.6020, with a volume of 1,151,134 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Teekay Price Performance

The firm has a market capitalization of $992.33 million, a price-to-earnings ratio of 7.57 and a beta of 0.19. The firm’s fifty day moving average is $12.76 and its 200 day moving average is $11.21.

Teekay (NYSE:TK) last posted its quarterly 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 business had revenue of $285.82 million during the quarter, compared to analysts’ expectations of $285.82 million. Teekay had a net margin of 13.03% and a return on equity of 6.36%.

Teekay Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, May 26th.

Hedge Funds Weigh In On Teekay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC raised its position in Teekay by 250.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Teekay during the fourth quarter valued at approximately $43,000. CWM LLC raised its position in Teekay by 34.2% during the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 1,449 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Teekay during the first quarter valued at approximately $48,000. Finally, Tower Research Capital LLC TRC raised its position in Teekay by 194.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 5,022 shares in the last quarter. Institutional investors own 46.73% of the company’s stock.

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.