Teekay (NYSE:TK) Director Sells $474,682.65 in Stock

Teekay Corporation Ltd. (NYSE:TK) Director Rudolph Krediet sold 41,457 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $11.45, for a total transaction of $474,682.65. Following the completion of the transaction, the director directly owned 35,167 shares in the company, valued at approximately $402,662.15. The trade was a 54.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Rudolph Krediet also recently made the following trade(s):

• On Wednesday, June 17th, Rudolph Krediet sold 63,042 shares of Teekay stock. The shares were sold at an average price of $11.80, for a total value of $743,895.60.

Teekay Trading Down 3.1%

Shares of TK opened at $10.88 on Thursday. The stock has a 50-day moving average price of $11.28 and a 200-day moving average price of $11.77. The company has a market cap of $944.17 million, a PE ratio of 5.23 and a beta of 0.23. Teekay Corporation Ltd. has a 12-month low of $7.34 and a 12-month high of $14.38.

Teekay (NYSE:TK) last announced its earnings results on Wednesday, July 29th. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.68. The business had revenue of $379.12 million during the quarter, compared to analyst estimates of $379.12 million. Teekay had a net margin of 15.78% and a return on equity of 7.91%. During the same period in the previous year, the business posted $0.22 earnings per share.

Teekay Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TK. Wall Street Zen cut Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded Teekay from a “hold (c-)” rating to a “buy (b-)” rating in a research report on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Institutional Trading of Teekay

Several institutional investors have recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC boosted its holdings in 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 during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Teekay during the fourth quarter valued at approximately $43,000. Cubist Systematic Strategies LLC bought a new position in shares of Teekay in the first quarter worth approximately $48,000. CWM LLC increased 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 worth $51,000 after buying an additional 1,449 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in 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 buying an additional 5,022 shares during the last quarter. 46.73% of the stock is currently owned by hedge funds and other institutional investors.

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.