Capital Fund Management S.A. decreased its stake in Teekay Corp. (NYSE:TK) by 20.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 369,577 shares of the company’s stock after selling 95,256 shares during the period. Capital Fund Management S.A.’s holdings in Teekay Corp. were worth $2,635,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of TK. Goldman Sachs Group Inc. boosted its stake in shares of Teekay Corp. by 614.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,023,977 shares of the company’s stock valued at $8,868,000 after buying an additional 880,735 shares in the last quarter. A.R.T. Advisors LLC boosted its stake in Teekay Corp. by 1,054.5% in the first quarter. A.R.T. Advisors LLC now owns 752,052 shares of the company’s stock valued at $6,512,000 after buying an additional 686,910 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Teekay Corp. during the first quarter valued at approximately $5,121,000. Bogle Investment Management L P DE boosted its stake in Teekay Corp. by 41.1% in the first quarter. Bogle Investment Management L P DE now owns 1,893,043 shares of the company’s stock valued at $16,393,000 after buying an additional 551,829 shares during the period. Finally, Riverhead Capital Management LLC bought a new stake in Teekay Corp. during the first quarter valued at approximately $2,390,000. 47.71% of the stock is currently owned by hedge funds and other institutional investors.
Teekay Corp. (NYSE:TK) traded up 5.22% during midday trading on Wednesday, reaching $8.46. 1,733,817 shares of the company’s stock traded hands. The firm’s market cap is $717.68 million. The stock’s 50 day moving average price is $7.34 and its 200 day moving average price is $8.20. Teekay Corp. has a 1-year low of $4.37 and a 1-year high of $35.93.
Teekay Corp. (NYSE:TK) last posted its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.07. Teekay Corp. had a negative net margin of 3.96% and a positive return on equity of 0.74%. The firm had revenue of $587.60 million for the quarter, compared to analyst estimates of $558.42 million. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Teekay Corp. will post ($0.38) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 16th. Stockholders of record on Friday, October 28th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Wednesday, October 26th. Teekay Corp.’s dividend payout ratio is currently -15.07%.
TK has been the topic of several research analyst reports. Zacks Investment Research raised shares of Teekay Corp. from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Wednesday, June 29th. Jefferies Group reissued a “hold” rating and set a $9.00 price target on shares of Teekay Corp. in a research note on Wednesday, July 6th. Wells Fargo & Co. reissued a “hold” rating on shares of Teekay Corp. in a research note on Thursday, July 7th. Credit Suisse Group AG set a $6.00 price target on shares of Teekay Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Finally, TheStreet cut shares of Teekay Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Teekay Corp. presently has an average rating of “Hold” and a consensus price target of $14.25.
About Teekay Corp.
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.
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