Teekay (NYSE:TK) Hits New 12-Month High – What’s Next?

Teekay Corporation Ltd. (NYSE:TK)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $11.49 and last traded at $11.35, with a volume of 12324 shares traded. The stock had previously closed at $11.42.

Wall Street Analyst Weigh In

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

Teekay Stock Up 0.1%

The stock has a 50-day simple moving average of $9.71 and a 200 day simple moving average of $9.05. The company has a market cap of $1.05 billion, a PE ratio of 8.10 and a beta of 0.20.

Institutional Trading of Teekay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TK. Cubist Systematic Strategies LLC acquired a new position in Teekay during the first quarter worth $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 holdings in shares of Teekay by 153.8% in the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after buying an additional 720,093 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Teekay during the 1st quarter worth about $267,000. Finally, Jane Street Group LLC boosted its holdings in Teekay by 82.3% during the 1st quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock valued at $1,052,000 after acquiring an additional 72,240 shares during the period. 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.