Teekay (NYSE:TK) Director Rudolph Krediet Sells 41,457 Shares of Stock

Teekay Corporation Ltd. (NYSE:TK) Director Rudolph Krediet sold 41,457 shares of Teekay stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $11.45, for a total transaction of $474,682.65. Following the transaction, the director directly owned 35,167 shares in the company, valued at approximately $402,662.15. This represents a 54.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rudolph Krediet also recently made the following trade(s):

• On Wednesday, June 17th, Rudolph Krediet sold 63,042 shares of Teekay stock. The stock was sold at an average price of $11.80, for a total value of $743,895.60.

Teekay Stock Up 1.2%

TK stock opened at $11.78 on Tuesday. The firm has a market cap of $1.02 billion, a PE ratio of 5.67 and a beta of 0.23. The business has a 50 day moving average of $11.32 and a 200-day moving average of $11.75. Teekay Corporation Ltd. has a 12-month low of $7.22 and a 12-month high of $14.38.

Teekay (NYSE:TK) last issued its quarterly earnings results on Wednesday, July 29th. The shipping company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 8.40% and a net margin of 15.78%.The business had revenue of $379.12 million for the quarter, compared to analyst estimates of $379.12 million. During the same period last year, the company posted $0.22 earnings per share.

Teekay Announces Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, May 26th.

Institutional Trading of Teekay

Large investors have recently bought and sold shares of the company. Mercuria Capital Strategies LLC bought a new stake in Teekay in the 4th quarter valued at about $11,091,000. Allspring Global Investments Holdings LLC boosted its position in Teekay by 58.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock worth $33,796,000 after purchasing an additional 1,029,977 shares during the period. Millennium Management LLC increased its stake in shares of Teekay by 153.8% in the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock worth $7,807,000 after purchasing an additional 720,093 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Teekay in the fourth quarter worth about $4,066,000. Finally, HRT Financial LP bought a new stake in shares of Teekay in the fourth quarter valued at approximately $2,996,000. 46.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TK shares. Weiss Ratings lowered shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 17th. Wall Street Zen lowered shares of Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Teekay Company 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.