Teekay (NYSE:TK) Reaches New 1-Year High – Here’s What Happened

Teekay Corporation Ltd. (NYSE:TK) hit a new 52-week high on Tuesday . The company traded as high as $13.76 and last traded at $12.8760, with a volume of 948967 shares traded. The stock had previously closed at $12.95.

Analysts Set New Price Targets

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

Teekay Trading Up 1.9%

The company has a fifty day moving average price of $10.47 and a 200-day moving average price of $9.45. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 11.36 and a beta of 0.13.

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

Hedge Funds Weigh In On Teekay

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in shares of Teekay in the third quarter valued at approximately $27,000. Transamerica Financial Advisors LLC lifted its stake in shares of Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 3,130 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Teekay during the fourth quarter worth about $43,000. Cubist Systematic Strategies LLC purchased a new position in shares of Teekay during the 1st quarter worth approximately $48,000. Finally, CWM LLC grew its stake in shares of Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after buying an additional 1,449 shares in the last quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.

About Teekay

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.