Teekay (NYSE:TK) Share Price Passes Above 200-Day Moving Average of $0.00

Teekay Co. (NYSE:TK)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $3.37. Teekay shares last traded at $3.32, with a volume of 13,494 shares traded.

A number of research firms recently issued reports on TK. Wells Fargo & Co set a $4.00 price target on Teekay and gave the stock a “hold” rating in a research note on Friday, May 31st. Zacks Investment Research downgraded Teekay from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, ValuEngine upgraded Teekay from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $6.19.

The business has a 50 day moving average of $3.91. The stock has a market cap of $340.31 million, a PE ratio of -6.23 and a beta of 1.53. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.64.

Teekay (NYSE:TK) last posted its quarterly earnings data on Thursday, August 1st. The shipping company reported ($0.13) earnings per share for the quarter. Teekay had a negative return on equity of 1.39% and a negative net margin of 8.34%. The company had revenue of $358.99 million for the quarter.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Teekay by 5.4% in the fourth quarter. BlackRock Inc. now owns 3,510,893 shares of the shipping company’s stock worth $11,726,000 after purchasing an additional 179,192 shares during the period. Geode Capital Management LLC increased its stake in Teekay by 19.4% in the fourth quarter. Geode Capital Management LLC now owns 245,755 shares of the shipping company’s stock worth $820,000 after purchasing an additional 39,881 shares during the period. Two Sigma Advisers LP increased its stake in Teekay by 16.2% in the fourth quarter. Two Sigma Advisers LP now owns 164,000 shares of the shipping company’s stock worth $548,000 after purchasing an additional 22,846 shares during the period. FMR LLC increased its stake in Teekay by 1.4% in the fourth quarter. FMR LLC now owns 2,174,122 shares of the shipping company’s stock worth $7,262,000 after purchasing an additional 29,154 shares during the period. Finally, Norges Bank purchased a new stake in Teekay in the fourth quarter worth $38,000. 21.00% of the stock is owned by institutional investors.

Teekay Company Profile (NYSE:TK)

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers; floating production, storage, and offloading units; floating storage and offloading units; HiLoad dynamic positioning units; long-distance towing and offshore installation vessels; and conventional tankers.

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