Teekay Co. (TK) Given Average Recommendation of “Hold” by Brokerages

Teekay Co. (NYSE:TK) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $7.00.

A number of brokerages have recently issued reports on TK. ValuEngine raised Teekay from a “strong sell” rating to a “sell” rating in a research note on Friday, January 5th. Morgan Stanley raised their price objective on Teekay from $3.00 to $6.00 and gave the company an “underweight” rating in a research note on Monday. Zacks Investment Research raised Teekay from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Jefferies Group began coverage on Teekay in a research note on Monday, December 18th. They set a “hold” rating and a $8.00 price objective on the stock.

Shares of Teekay (TK) traded down $0.38 during trading hours on Tuesday, hitting $7.53. The stock had a trading volume of 1,515,849 shares, compared to its average volume of 2,121,724. Teekay has a 52-week low of $5.14 and a 52-week high of $11.15. The company has a market capitalization of $685.95, a PE ratio of -4.56 and a beta of 1.44. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.28.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.92%. Teekay’s dividend payout ratio (DPR) is currently -13.33%.

Large investors have recently made changes to their positions in the company. Voya Investment Management LLC grew its stake in shares of Teekay by 25.8% during the second quarter. Voya Investment Management LLC now owns 22,518 shares of the shipping company’s stock valued at $150,000 after buying an additional 4,617 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Teekay during the third quarter worth about $212,000. Fox Run Management L.L.C. purchased a new stake in shares of Teekay during the third quarter worth about $296,000. Fondren Management LP purchased a new stake in shares of Teekay during the second quarter worth about $267,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Teekay during the second quarter worth about $306,000. 26.32% of the stock is currently owned by hedge funds and other institutional investors.

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About Teekay

Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.

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