Teekay (NYSE:TK) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Teekay Corporation Ltd. (NYSE:TK) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.11 and traded as high as $13.43. Teekay shares last traded at $13.4050, with a volume of 481,004 shares.

Analyst Upgrades and Downgrades

TK has been the topic of several research analyst reports. Weiss Ratings cut shares of Teekay from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 20th. Wall Street Zen upgraded Teekay from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Teekay Trading Up 0.7%

The stock has a market capitalization of $1.18 billion, a P/E ratio of 6.52 and a beta of 0.25. The business has a 50-day moving average price of $11.61 and a two-hundred day moving average price of $12.12.

Teekay (NYSE:TK) last posted its earnings results on Friday, July 31st. The shipping company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.11 by $0.68. Teekay had a net margin of 15.78% and a return on equity of 7.91%. During the same quarter in the prior year, the firm posted $0.22 EPS.

Insider Activity at Teekay

In related news, CEO Kenneth Hvid sold 6,822 shares of Teekay stock in a transaction on Friday, June 12th. The stock was sold at an average price of $12.04, for a total transaction of $82,136.88. Following the transaction, the chief executive officer directly owned 105,500 shares in the company, valued at approximately $1,270,220. The trade was a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Heidi Simon sold 18,119 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $12.37, for a total value of $224,132.03. Following the sale, the director directly owned 47,582 shares in the company, valued at approximately $588,589.34. This represents a 27.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 454,206 shares of company stock valued at $5,541,325. 2.38% of the stock is currently owned by company insiders.

Institutional Trading of Teekay

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in Teekay in the first quarter valued at about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Teekay by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after buying an additional 1,404 shares during the period. Millennium Management LLC raised its stake in shares of Teekay by 153.8% in the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after acquiring an additional 720,093 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Teekay during the first quarter worth $267,000. Finally, Jane Street Group LLC increased its holdings in shares of Teekay by 82.3% in the 1st quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock valued at $1,052,000 after purchasing an additional 72,240 shares in the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

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.