62,843 Shares in Teekay Corporation Ltd. $TK Purchased by U S Global Investors Inc.

U S Global Investors Inc. purchased a new stake in shares of Teekay Corporation Ltd. (NYSE:TK) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 62,843 shares of the shipping company’s stock, valued at approximately $767,000.

A number of other large investors have also added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC raised its position in Teekay by 250.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after acquiring an additional 3,130 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Teekay during the 4th quarter valued at approximately $43,000. CWM LLC grew its position in shares of Teekay by 34.2% during the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 1,449 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Teekay during the 1st quarter worth approximately $48,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Teekay by 194.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock worth $63,000 after purchasing an additional 5,022 shares during the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TK. Weiss Ratings raised shares of Teekay from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Wall Street Zen lowered 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, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Teekay Stock Performance

NYSE TK traded up $0.32 during trading on Friday, hitting $10.97. 452,611 shares of the company’s stock traded hands, compared to its average volume of 541,250. The stock has a market capitalization of $952.41 million, a price-to-earnings ratio of 7.27 and a beta of 0.22. Teekay Corporation Ltd. has a 12-month low of $7.11 and a 12-month high of $14.38. The business has a 50 day moving average of $12.10 and a 200-day moving average of $11.52.

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

Teekay Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were paid a $1.00 dividend. The ex-dividend date was Tuesday, May 26th.

Insider Buying and Selling at Teekay

In other Teekay news, CEO Kenneth Hvid sold 315,335 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $12.36, for a total transaction of $3,897,540.60. Following the sale, the chief executive officer owned 112,322 shares of the company’s stock, valued at $1,388,299.92. The trade was a 73.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rudolph Krediet sold 63,042 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $11.80, for a total value of $743,895.60. Following the sale, the director owned 35,167 shares in the company, valued at approximately $414,970.60. This represents a 64.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 408,818 shares of company stock valued at $5,014,530 over the last 90 days. 2.38% of the stock is currently owned by corporate insiders.

Teekay Profile

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.