Teekay (NYSE:TK) CFO Sells $66,825.00 in Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $12.15, for a total value of $66,825.00. Following the completion of the transaction, the chief financial officer directly owned 3,364 shares in the company, valued at approximately $40,872.60. The trade was a 62.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Teekay Stock Up 0.1%

Shares of TK opened at $12.34 on Monday. The business’s 50 day moving average is $12.72 and its two-hundred day moving average is $11.29. Teekay Corporation Ltd. has a 52-week low of $7.11 and a 52-week high of $14.38. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 8.17 and a beta of 0.19.

Teekay (NYSE:TK) last announced its earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.44. Teekay had a return on equity of 6.36% and a net margin of 13.03%.The company had revenue of $285.82 million for the quarter, compared to analyst estimates of $285.82 million.

Teekay Announces Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were given a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, May 26th.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TK. Weiss Ratings lowered Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 8th. Wall Street Zen lowered Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Teekay

Several institutional investors and hedge funds have recently made changes to their positions in TK. Transamerica Financial Advisors LLC raised its position in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Teekay during the 4th quarter valued at approximately $43,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Teekay during the 1st quarter valued at approximately $48,000. CWM LLC raised its position in shares of Teekay by 34.2% during the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Teekay by 194.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 5,022 shares in the last quarter. 46.73% of the stock is owned by institutional investors and hedge funds.

Teekay Company 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.