Teekay (NYSE:TK) CEO Sells $3,897,540.60 in Stock

Teekay Corporation Ltd. (NYSE:TK) CEO Kenneth Hvid sold 315,335 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $12.36, for a total value of $3,897,540.60. Following the transaction, the chief executive officer owned 112,322 shares in the company, valued at $1,388,299.92. The trade was a 73.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Teekay Stock Up 3.7%

Shares of TK stock traded up $0.45 on Friday, reaching $12.33. 67,175 shares of the stock were exchanged, compared to its average volume of 589,081. Teekay Corporation Ltd. has a 1-year low of $7.11 and a 1-year high of $14.38. The stock has a market cap of $1.07 billion, a P/E ratio of 8.17 and a beta of 0.19. The firm has a 50 day moving average of $12.72 and a two-hundred day moving average of $11.27.

Teekay (NYSE:TK) last posted its quarterly earnings data on Wednesday, May 13th. The shipping company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.44. Teekay had a net margin of 13.03% and a return on equity of 6.36%. The company had revenue of $285.82 million during the quarter, compared to analysts’ expectations of $285.82 million.

Teekay Announces Dividend

The business also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were paid a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th. Teekay’s dividend payout ratio (DPR) is currently 16.56%.

Analyst Ratings Changes

A number of research firms recently commented on TK. Weiss Ratings lowered shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Wall Street Zen downgraded shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Teekay

Several large investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL lifted its stake in Teekay by 191.0% in the third quarter. Tudor Investment Corp ET AL now owns 407,901 shares of the shipping company’s stock valued at $3,337,000 after acquiring an additional 267,743 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Teekay in the 3rd quarter worth about $681,000. American Century Companies Inc. increased its holdings 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. Hussman Strategic Advisors Inc. bought a new position in Teekay in the 4th quarter valued at about $948,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Teekay by 25.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,753,892 shares of the shipping company’s stock valued at $15,469,000 after buying an additional 359,376 shares during the period. Institutional investors 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.