Eagle Global Advisors LLC Sells 49,700 Shares of Teekay Corporation (TK)
Eagle Global Advisors LLC lowered its stake in Teekay Corporation (NYSE:TK) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,975,228 shares of the shipping company’s stock after selling 49,700 shares during the period. Eagle Global Advisors LLC owned about 2.29% of Teekay Corporation worth $18,073,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Geneva Advisors LLC increased its stake in shares of Teekay Corporation by 10.6% in the first quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,057 shares in the last quarter. Trexquant Investment LP increased its stake in shares of Teekay Corporation by 8.6% in the first quarter. Trexquant Investment LP now owns 26,609 shares of the shipping company’s stock valued at $243,000 after buying an additional 2,109 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Teekay Corporation by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company’s stock valued at $2,351,000 after buying an additional 7,475 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Teekay Corporation by 9.1% in the fourth quarter. Teachers Advisors LLC now owns 92,892 shares of the shipping company’s stock valued at $746,000 after buying an additional 7,754 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Teekay Corporation during the first quarter valued at $111,000. Institutional investors and hedge funds own 46.66% of the company’s stock.
Shares of Teekay Corporation (NYSE:TK) opened at 5.51 on Monday. The stock’s market cap is $475.29 million. The company has a 50-day moving average of $6.83 and a 200 day moving average of $8.63. Teekay Corporation has a 52-week low of $5.22 and a 52-week high of $11.77.
Teekay Corporation (NYSE:TK) last posted its earnings results on Thursday, May 18th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.24. The company had revenue of $543.50 million during the quarter, compared to the consensus estimate of $497.83 million. Teekay Corporation had a negative net margin of 5.36% and a negative return on equity of 1.86%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Equities research analysts forecast that Teekay Corporation will post ($0.82) EPS for the current fiscal year.
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Several research firms recently commented on TK. Royal Bank Of Canada reiterated a “hold” rating on shares of Teekay Corporation in a research report on Friday. Jefferies Group LLC reiterated a “hold” rating and issued a $8.50 price target on shares of Teekay Corporation in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Morgan Stanley downgraded shares of Teekay Corporation from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $8.00 to $3.00 in a research report on Friday, June 9th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $5.94.
Teekay Corporation Company Profile
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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