California State Teachers Retirement System lessened its holdings in shares of Teekay Corporation (NYSE:TK) by 0.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 95,647 shares of the shipping company’s stock after selling 900 shares during the period. California State Teachers Retirement System owned 0.11% of Teekay worth $638,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Teekay by 16.4% during the second quarter. Bank of New York Mellon Corp now owns 299,070 shares of the shipping company’s stock valued at $1,994,000 after acquiring an additional 42,147 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Teekay by 404.5% during the second quarter. Goldman Sachs Group Inc. now owns 566,352 shares of the shipping company’s stock valued at $3,778,000 after acquiring an additional 454,087 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Teekay during the second quarter valued at $865,000. Wells Fargo & Company MN lifted its stake in shares of Teekay by 65.6% during the second quarter. Wells Fargo & Company MN now owns 71,609 shares of the shipping company’s stock valued at $477,000 after acquiring an additional 28,365 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Teekay by 70.9% during the second quarter. Alliancebernstein L.P. now owns 122,500 shares of the shipping company’s stock valued at $817,000 after acquiring an additional 50,800 shares during the period. Institutional investors own 27.94% of the company’s stock.

Teekay Corporation (TK) traded down $0.01 during trading hours on Monday, reaching $8.32. The company’s stock had a trading volume of 520,100 shares, compared to its average volume of 1,419,180. Teekay Corporation has a 1 year low of $5.14 and a 1 year high of $11.77. 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 released its earnings results on Thursday, November 9th. The shipping company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.03. Teekay had a negative return on equity of 3.48% and a negative net margin of 6.66%. The firm had revenue of $500.80 million for the quarter, compared to analyst estimates of $475.32 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. research analysts anticipate that Teekay Corporation will post -1.16 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 2.64%. The ex-dividend date was Thursday, November 2nd. Teekay’s payout ratio is -13.33%.

TK has been the topic of several research reports. Zacks Investment Research raised Teekay from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, October 4th. Jefferies Group reaffirmed a “hold” rating and set a $8.00 price target on shares of Teekay in a research note on Thursday, October 12th. Finally, ValuEngine lowered Teekay from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.00.

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Teekay 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.

Institutional Ownership by Quarter for Teekay (NYSE:TK)

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