Hsbc Holdings PLC Takes Position in Teekay Corporation Ltd. $TK

Hsbc Holdings PLC bought a new stake in Teekay Corporation Ltd. (NYSE:TK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 69,957 shares of the shipping company’s stock, valued at approximately $630,000.

Other institutional investors have also added to or reduced their stakes in the company. Transamerica Financial Advisors LLC grew its stake in Teekay by 250.8% in the fourth 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 acquired a new position in shares of Teekay during the fourth quarter worth approximately $43,000. CWM LLC lifted its holdings in shares of Teekay by 34.2% in the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock worth $51,000 after purchasing an additional 1,449 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Teekay in the 1st quarter worth $48,000. Finally, Tower Research Capital LLC TRC grew its position in Teekay by 194.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 5,022 shares during the period. 46.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Rudolph Krediet sold 63,042 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $11.80, for a total value of $743,895.60. Following the completion of the sale, the director owned 35,167 shares in the company, valued at $414,970.60. This represents a 64.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Simon Heidi Locke sold 18,119 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $12.37, for a total transaction of $224,132.03. Following the completion of the sale, the director owned 47,582 shares of the company’s stock, valued at approximately $588,589.34. This represents a 27.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 408,818 shares of company stock valued at $5,014,530 over the last quarter. 2.38% of the stock is owned by insiders.

Teekay Stock Up 0.8%

Shares of Teekay stock opened at $11.03 on Thursday. Teekay Corporation Ltd. has a 52 week low of $7.11 and a 52 week high of $14.38. The business has a 50 day moving average price of $11.93 and a 200-day moving average price of $11.57. The company has a market cap of $956.84 million, a PE ratio of 7.30 and a beta of 0.22.

Teekay (NYSE:TK) last announced its earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (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 for the quarter, compared to analysts’ expectations of $285.82 million.

Teekay Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Shareholders 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.

Analyst Ratings Changes

TK has been the topic of several research reports. Wall Street Zen downgraded shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded shares of Teekay from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Teekay currently has an average 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.