Zacks Investment Research lowered shares of Teekay (NYSE:TK) from a hold rating to a sell rating in a report issued on Thursday morning.

According to Zacks, “Teekay Shipping Corporation is a leading provider of international crude oil and petroleum product transportation services through the world’s largest fleet of medium size oil tankers. The Company’s modern fleet provides such transportation services to major oil companies, major oil traders and government agencies, principally in the region spanning from the Red Sea to the U.S. West Coast. “

A number of other research analysts have also commented on the stock. ValuEngine upgraded shares of Teekay from a sell rating to a hold rating in a research note on Monday, November 26th. Bank of America started coverage on shares of Teekay in a research note on Monday, October 22nd. They set a buy rating and a $8.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Teekay currently has a consensus rating of Hold and a consensus price target of $7.50.

Shares of TK traded down $0.22 during mid-day trading on Thursday, reaching $3.64. 731,400 shares of the company’s stock traded hands, compared to its average volume of 815,075. The stock has a market cap of $399.73 million, a PE ratio of -2.64 and a beta of 1.26. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.58. Teekay has a 12 month low of $2.92 and a 12 month high of $10.90.

Teekay (NYSE:TK) last released its quarterly earnings results on Thursday, November 15th. The shipping company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.22). The business had revenue of $325.66 million for the quarter, compared to the consensus estimate of $311.22 million. Teekay had a negative net margin of 4.84% and a negative return on equity of 2.07%. As a group, analysts forecast that Teekay will post -0.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Friday, February 1st will be paid a dividend of $0.055 per share. The ex-dividend date is Thursday, January 31st. This represents a $0.22 dividend on an annualized basis and a dividend yield of 6.04%. Teekay’s dividend payout ratio is presently -15.94%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC increased its stake in shares of Teekay by 60.8% during the third quarter. Virtu Financial LLC now owns 21,068 shares of the shipping company’s stock valued at $142,000 after acquiring an additional 7,962 shares during the period. Paloma Partners Management Co acquired a new position in shares of Teekay during the second quarter valued at approximately $265,000. BlueMountain Capital Management LLC increased its stake in shares of Teekay by 120.1% during the second quarter. BlueMountain Capital Management LLC now owns 18,577 shares of the shipping company’s stock valued at $144,000 after acquiring an additional 10,135 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Teekay by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 719,012 shares of the shipping company’s stock valued at $4,846,000 after acquiring an additional 144,043 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Teekay during the third quarter valued at approximately $283,000. Institutional investors and hedge funds own 23.60% of the company’s stock.

About Teekay

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers, floating storage and offloading (FSO) units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects.

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