Teekay (NYSE:TK) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Teekay Corporation Ltd. (NYSE:TK)’s stock price 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 traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Teekay Trading Down 0.8%

The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 9.98 and a beta of 0.13. The company’s fifty day moving average is $10.97 and its two-hundred day moving average is $9.70.

Teekay (NYSE:TK) last released its quarterly earnings results on Friday, March 13th. The shipping company reported $0.37 EPS for the quarter. Teekay had a return on equity of 4.76% and a net margin of 10.33%.The company had revenue of $243.09 million for the quarter.

Institutional Investors Weigh In On Teekay

Several large investors have recently added to or reduced their stakes in TK. State of Alaska Department of Revenue acquired a new stake in Teekay during the 3rd quarter worth approximately $27,000. Transamerica Financial Advisors LLC raised its position in Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Teekay in the 4th quarter valued at about $43,000. Cubist Systematic Strategies LLC purchased a new position in shares of Teekay in the 1st quarter valued at about $48,000. Finally, CWM LLC grew its position in shares of Teekay by 34.2% during the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock worth $51,000 after buying an additional 1,449 shares in the last quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.

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.