Schwab Charles Investment Management Inc. boosted its stake in shares of Teekay Co. (NYSE:TK) by 6.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 739,330 shares of the shipping company’s stock after purchasing an additional 48,018 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.86% of Teekay worth $6,891,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of TK. State Street Corp lifted its stake in Teekay by 3.8% in the 2nd quarter. State Street Corp now owns 1,185,982 shares of the shipping company’s stock worth $7,910,000 after purchasing an additional 43,160 shares in the last quarter. Northern Trust Corp lifted its stake in Teekay by 9.0% in the 2nd quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock worth $7,151,000 after purchasing an additional 88,261 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Teekay by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 618,000 shares of the shipping company’s stock worth $4,122,000 after purchasing an additional 3,433 shares in the last quarter. Cedar Capital LLC lifted its stake in Teekay by 10.2% in the 3rd quarter. Cedar Capital LLC now owns 497,668 shares of the shipping company’s stock worth $4,444,000 after purchasing an additional 46,059 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Teekay by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 320,139 shares of the shipping company’s stock worth $2,136,000 after purchasing an additional 15,740 shares in the last quarter. Hedge funds and other institutional investors own 27.11% of the company’s stock.
TK has been the topic of several analyst reports. ValuEngine lowered shares of Teekay from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Jefferies Group started coverage on Teekay in a research report on Monday, December 18th. They issued a “hold” rating and a $8.00 target price on the stock. Zacks Investment Research upgraded shares of Teekay from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Morgan Stanley boosted their price target on shares of Teekay from $3.00 to $6.00 and gave the stock an “underweight” rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $8.00.
Shares of TK stock traded up $0.25 on Friday, reaching $8.64. 2,072,765 shares of the company were exchanged, compared to its average volume of 1,174,253. Teekay Co. has a 52-week low of $5.14 and a 52-week high of $10.90. The stock has a market capitalization of $779.82, a PE ratio of -4.88 and a beta of 1.42. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.28.
Teekay (NYSE:TK) last announced its earnings results on Thursday, February 22nd. The shipping company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Teekay had a negative net margin of 8.05% and a negative return on equity of 3.36%. The business had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $508.35 million. During the same period in the previous year, the company posted ($0.22) earnings per share. Teekay’s quarterly revenue was down 40.8% on a year-over-year basis. analysts anticipate that Teekay Co. will post 0.31 earnings per share for the current fiscal year.
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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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