Teekay (NYSE:TK) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Teekay Corporation Ltd. (NYSE:TK) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.70 and traded as high as $9.85. Teekay shares last traded at $9.56, with a volume of 570,865 shares changing hands.

Analyst Ratings Changes

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

Teekay Stock Performance

The firm has a market cap of $877.99 million, a PE ratio of 6.78 and a beta of 0.18. The stock’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $8.70.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TK. State of Alaska Department of Revenue purchased a new stake in Teekay during the third quarter valued at about $27,000. Cubist Systematic Strategies LLC bought a new position in shares of Teekay during the 1st quarter valued at about $48,000. Tower Research Capital LLC TRC increased its position in shares of Teekay by 194.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 5,022 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Teekay by 1,008.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company’s stock valued at $86,000 after buying an additional 9,513 shares in the last quarter. Finally, Baron Wealth Management LLC bought a new stake in Teekay in the 4th quarter worth approximately $95,000. Institutional investors own 46.73% of the company’s stock.

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.