Envestnet Asset Management Inc. Grows Stock Position in Teekay Corporation Ltd. $TK

Envestnet Asset Management Inc. raised its position in Teekay Corporation Ltd. (NYSE:TK) by 31.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,470 shares of the shipping company’s stock after buying an additional 46,265 shares during the quarter. Envestnet Asset Management Inc. owned about 0.21% of Teekay worth $1,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in Teekay in the 3rd quarter worth about $27,000. Cubist Systematic Strategies LLC purchased a new position in shares of Teekay in the first quarter worth about $48,000. Tower Research Capital LLC TRC raised its position in shares of Teekay by 194.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 5,022 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Teekay by 1,008.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company’s stock valued at $86,000 after buying an additional 9,513 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Teekay during the 2nd quarter valued at approximately $91,000. Institutional investors own 46.73% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Teekay has an average rating of “Hold”.

Teekay Trading Up 0.4%

Shares of Teekay stock opened at $12.95 on Friday. The company’s 50-day moving average price is $10.25 and its 200-day moving average price is $9.34. Teekay Corporation Ltd. has a 12-month low of $5.65 and a 12-month high of $13.02. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 10.79 and a beta of 0.20.

Teekay (NYSE:TK) last posted its earnings results on Wednesday, February 18th. The shipping company reported $0.40 earnings per share for the quarter. Teekay had a net margin of 10.33% and a return on equity of 5.02%.

Teekay Profile

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.