Teekay (NYSE:TK) Shares Gap Up – Should You Buy?

Teekay Corporation Ltd. (NYSE:TK) shares gapped up prior to trading on Monday . The stock had previously closed at $12.95, but opened at $13.75. Teekay shares last traded at $12.8440, with a volume of 185,570 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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 data from MarketBeat, the stock has a consensus rating of “Hold”.

Teekay Stock Performance

The stock’s 50-day moving average is $10.25 and its two-hundred day moving average is $9.35. The stock has a market cap of $1.19 billion, a PE ratio of 11.44 and a beta of 0.12.

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

Institutional Trading of Teekay

A number of institutional investors and hedge funds have recently bought and sold shares of TK. Dimensional Fund Advisors LP boosted its stake in shares of Teekay by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,326,069 shares of the shipping company’s stock valued at $48,094,000 after purchasing an additional 48,309 shares during the period. American Century Companies Inc. boosted its position in Teekay by 6.5% in the 3rd quarter. American Century Companies Inc. now owns 2,401,121 shares of the shipping company’s stock valued at $19,641,000 after buying an additional 147,009 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of 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 acquiring an additional 110,755 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Teekay by 130.4% during the second quarter. JPMorgan Chase & Co. now owns 1,983,752 shares of the shipping company’s stock worth $16,366,000 after acquiring an additional 1,122,843 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Teekay by 25.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,753,892 shares of the shipping company’s stock valued at $15,469,000 after acquiring an additional 359,376 shares in the last quarter. 46.73% of the stock is currently owned by hedge funds and other institutional investors.

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.