Teekay (NYSE:TK) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Teekay Corporation Ltd. (NYSE:TK)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.19 and traded as high as $11.65. Teekay shares last traded at $11.6020, with a volume of 1,151,134 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Teekay currently has an average rating of “Hold”.

Teekay Stock Down 0.1%

The stock has a market cap of $1.01 billion, a PE ratio of 7.68 and a beta of 0.19. The firm has a fifty day moving average of $12.77 and a 200 day moving average of $11.19.

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

Teekay Dividend Announcement

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

Hedge Funds Weigh In On Teekay

Several large investors have recently bought and sold shares of TK. Transamerica Financial Advisors LLC boosted its stake in Teekay by 250.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Teekay in the fourth quarter valued at $43,000. Cubist Systematic Strategies LLC acquired a new position in Teekay in the first quarter valued at $48,000. CWM LLC boosted its stake in Teekay by 34.2% in the fourth 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Teekay by 194.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 5,022 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.