Rudolph Krediet Sells 63,042 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) Director Rudolph Krediet sold 63,042 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $11.80, for a total value of $743,895.60. Following the completion of the transaction, the director owned 35,167 shares in the company, valued at approximately $414,970.60. This trade represents a 64.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Teekay Stock Up 1.6%

Shares of NYSE TK opened at $11.90 on Friday. Teekay Corporation Ltd. has a fifty-two week low of $7.11 and a fifty-two week high of $14.38. The business has a 50 day moving average price of $12.66 and a two-hundred day moving average price of $11.35. The firm has a market cap of $1.03 billion, a PE ratio of 7.88 and a beta of 0.19.

Teekay (NYSE:TK) last released its earnings results on Wednesday, May 13th. The shipping company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.11 by $0.44. Teekay had a return on equity of 6.36% and a net margin of 13.03%.The company had revenue of $285.82 million during the quarter, compared to analysts’ expectations of $285.82 million.

Teekay Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TK. Empowered Funds LLC increased its holdings in shares of Teekay by 8.0% during the first quarter. Empowered Funds LLC now owns 511,686 shares of the shipping company’s stock valued at $6,248,000 after purchasing an additional 37,800 shares during the period. Amundi grew its position in Teekay by 55.5% in the 1st quarter. Amundi now owns 32,166 shares of the shipping company’s stock valued at $393,000 after buying an additional 11,479 shares in the last quarter. Quantinno Capital Management LP grew its position in Teekay by 12.9% in the 1st quarter. Quantinno Capital Management LP now owns 39,869 shares of the shipping company’s stock valued at $487,000 after buying an additional 4,549 shares in the last quarter. Sei Investments Co. increased its stake in Teekay by 69.2% during the 1st quarter. Sei Investments Co. now owns 55,000 shares of the shipping company’s stock valued at $672,000 after buying an additional 22,486 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Teekay by 66.5% during the 1st quarter. Cetera Investment Advisers now owns 25,009 shares of the shipping company’s stock worth $305,000 after buying an additional 9,992 shares in the last quarter. Institutional investors own 46.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TK shares. Wall Street Zen cut shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings lowered shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

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.