Teekay (NYSE:TK) Issues Earnings Results

Teekay (NYSE:TK) issued its quarterly earnings results on Wednesday. The shipping company reported $0.40 EPS for the quarter, Zacks reports.

Teekay Stock Performance

Shares of TK traded up $0.29 during trading hours on Wednesday, hitting $11.86. The stock had a trading volume of 610,408 shares, compared to its average volume of 572,109. Teekay has a fifty-two week low of $5.65 and a fifty-two week high of $11.95. The firm has a 50-day moving average price of $9.75 and a 200 day moving average price of $9.08. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 8.41 and a beta of 0.20.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Teekay

A number of large investors have recently added to or reduced their stakes in the stock. 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 worth $40,000 after purchasing an additional 3,130 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Teekay in the 4th quarter valued at approximately $43,000. Cubist Systematic Strategies LLC purchased a new position in Teekay in the first quarter worth approximately $48,000. Tower Research Capital LLC TRC increased 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 worth $63,000 after purchasing an additional 5,022 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Teekay by 1,008.8% in the 2nd quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company’s stock valued at $86,000 after acquiring an additional 9,513 shares during the period. 46.73% of the stock is currently owned by institutional investors and hedge funds.

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.