Teekay (NYSE:TK) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened
by Mitch Edgeman · The Markets DailyTeekay Corporation Ltd. (NYSE:TK – Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.70 and traded as high as $11.42. Teekay shares last traded at $11.2820, with a volume of 638,063 shares.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Teekay in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Teekay currently has an average rating of “Hold”.
Check Out Our Latest Analysis on Teekay
Teekay Stock Performance
The company has a market cap of $1.07 billion, a PE ratio of 10.32 and a beta of 0.13. The stock’s 50-day simple moving average is $11.00 and its 200 day simple moving average is $9.72.
Teekay (NYSE:TK – Get Free Report) last issued its earnings results on Friday, March 13th. The shipping company reported $0.37 earnings per share for the quarter. Teekay had a net margin of 10.33% and a return on equity of 4.76%. The business had revenue of $243.09 million for the quarter.
Hedge Funds Weigh In On Teekay
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new position in Teekay in the third quarter worth $681,000. Envestnet Asset Management Inc. boosted its position in shares of Teekay by 24.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 149,205 shares of the shipping company’s stock worth $1,231,000 after purchasing an additional 28,860 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Teekay by 6.5% during the 3rd quarter. American Century Companies Inc. now owns 2,401,121 shares of the shipping company’s stock worth $19,641,000 after purchasing an additional 147,009 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Teekay by 40.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,104,437 shares of the shipping company’s stock valued at $17,362,000 after purchasing an additional 604,666 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Teekay by 36.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,394,516 shares of the shipping company’s stock valued at $11,477,000 after purchasing an additional 371,530 shares in the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.
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.