Dimensional Fund Advisors LP Has $5.62 Million Position in Teekay Corporation (TK)
Dimensional Fund Advisors LP boosted its position in shares of Teekay Corporation (NYSE:TK) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 614,567 shares of the shipping company’s stock after buying an additional 12,881 shares during the period. Dimensional Fund Advisors LP owned 0.71% of Teekay Corporation worth $5,624,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nine Chapters Capital Management LLC purchased a new position in shares of Teekay Corporation during the first quarter worth approximately $141,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Teekay Corporation during the first quarter worth approximately $111,000. Zweig DiMenna Associates LLC purchased a new position in shares of Teekay Corporation during the first quarter worth approximately $229,000. Karp Capital Management Corp purchased a new position in shares of Teekay Corporation during the first quarter worth approximately $255,000. Finally, Cedar Capital LLC purchased a new position in shares of Teekay Corporation during the first quarter worth approximately $2,952,000. 46.41% of the stock is owned by institutional investors.
Teekay Corporation (NYSE TK) traded up 1.18% during mid-day trading on Friday, hitting $9.45. 565,416 shares of the stock were exchanged. The stock’s 50-day moving average is $8.66 and its 200 day moving average is $8.34. The company’s market capitalization is $815.15 million. Teekay Corporation has a 52 week low of $5.14 and a 52 week high of $11.77.
Teekay Corporation (NYSE:TK) last released its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.07. The firm had revenue of $513.90 million for the quarter, compared to the consensus estimate of $503.65 million. Teekay Corporation had a negative net margin of 5.66% and a negative return on equity of 2.82%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. On average, analysts anticipate that Teekay Corporation will post ($1.11) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Friday, August 4th were paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.33%. Teekay Corporation’s dividend payout ratio is currently -15.38%.
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A number of brokerages have recently commented on TK. BidaskClub raised shares of Teekay Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and set a $8.50 target price on shares of Teekay Corporation in a research note on Tuesday, May 2nd. ValuEngine upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Teekay Corporation in a research note on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Teekay Corporation has a consensus rating of “Hold” and an average target price of $5.33.
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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