Teekay (NYSE:TK) Issues Quarterly Earnings Results

Teekay (NYSE:TK) issued its quarterly earnings data on Wednesday. The shipping company reported $0.40 earnings per share (EPS) for the quarter, Zacks reports.

Teekay Stock Performance

TK traded up $0.29 on Wednesday, hitting $11.86. The company had a trading volume of 610,408 shares, compared to its average volume of 572,109. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 8.41 and a beta of 0.20. The stock has a fifty day moving average price of $9.75 and a 200-day moving average price of $9.08. Teekay has a 12-month low of $5.65 and a 12-month high of $11.95.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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, Teekay presently has a consensus rating of “Hold”.

Institutional Trading of Teekay

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Teekay by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after purchasing an additional 1,404 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Teekay by 0.5% during the fourth quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock worth $4,279,000 after acquiring an additional 2,382 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Teekay by 7.0% during the fourth quarter. Verition Fund Management LLC now owns 38,408 shares of the shipping company’s stock valued at $347,000 after acquiring an additional 2,500 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of Teekay by 17.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 18,428 shares of the shipping company’s stock valued at $152,000 after purchasing an additional 2,721 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares in the last quarter. Hedge funds and other 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.