Advisors Asset Management Inc. purchased a new position in shares of Teekay Corp. (NYSE:TK) during the second quarter, Holdings Channel reports. The fund purchased 16,849 shares of the company’s stock, valued at approximately $120,000.
A number of other large investors have also added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its position in shares of Teekay Corp. by 43.8% in the second quarter. Acadian Asset Management LLC now owns 46,714 shares of the company’s stock worth $333,000 after buying an additional 14,220 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Teekay Corp. during the second quarter worth approximately $111,000. Nisa Investment Advisors LLC raised its position in shares of Teekay Corp. by 120.0% in the second quarter. Nisa Investment Advisors LLC now owns 51,700 shares of the company’s stock worth $369,000 after buying an additional 28,200 shares during the last quarter. Creative Planning raised its position in shares of Teekay Corp. by 11,607.5% in the second quarter. Creative Planning now owns 23,415 shares of the company’s stock worth $167,000 after buying an additional 23,215 shares during the last quarter. Finally, Babson Capital Management LLC raised its position in shares of Teekay Corp. by 2,230.1% in the first quarter. Babson Capital Management LLC now owns 240,000 shares of the company’s stock worth $2,078,000 after buying an additional 229,700 shares during the last quarter. 47.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Teekay Corp. (NYSE:TK) traded down 1.97% on Friday, reaching $8.46. 1,251,416 shares of the company were exchanged. The firm’s 50 day moving average price is $7.41 and its 200 day moving average price is $8.20. Teekay Corp. has a 52 week low of $4.37 and a 52 week high of $35.38. The stock’s market capitalization is $717.68 million.
Teekay Corp. (NYSE:TK) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.01 EPS for the quarter, beating the 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 business earned $587.60 million during the quarter, compared to analysts’ expectations of $558.42 million. During the same period in the previous year, the business posted $0.27 EPS. The business’s quarterly revenue 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 16th. Shareholders of record on Friday, October 28th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.60%. The ex-dividend date is Wednesday, October 26th. Teekay Corp.’s payout ratio is -15.07%.
A number of research firms have recently issued reports on TK. Credit Suisse Group AG set a $6.00 price objective on shares of Teekay Corp. and gave the stock a “hold” rating in a research report on Friday, August 5th. TheStreet cut shares of Teekay Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Zacks Investment Research cut shares of Teekay Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Jefferies Group reaffirmed a “hold” rating and issued a $9.00 price target on shares of Teekay Corp. in a research report on Wednesday, July 6th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Teekay Corp. in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus 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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