Gargoyle Investment Advisor L.L.C. held its stake in Teekay Corporation (NYSE:TK) during the second quarter, Holdings Channel reports. The fund owned 17,582 shares of the shipping company’s stock at the end of the second quarter. Gargoyle Investment Advisor L.L.C.’s holdings in Teekay Corporation were worth $117,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TK. State Street Corp increased its stake in Teekay Corporation by 50.3% in the fourth quarter. State Street Corp now owns 1,180,008 shares of the shipping company’s stock worth $9,473,000 after buying an additional 394,726 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Teekay Corporation by 12.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 746,536 shares of the shipping company’s stock worth $4,980,000 after buying an additional 82,667 shares during the period. Dimensional Fund Advisors LP increased its stake in Teekay Corporation by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 614,567 shares of the shipping company’s stock worth $5,624,000 after buying an additional 12,881 shares during the period. Bank of America Corp DE increased its stake in Teekay Corporation by 333.1% in the first quarter. Bank of America Corp DE now owns 412,008 shares of the shipping company’s stock worth $3,770,000 after buying an additional 316,885 shares during the period. Finally, Geode Capital Management LLC increased its stake in Teekay Corporation by 11.6% in the first quarter. Geode Capital Management LLC now owns 395,181 shares of the shipping company’s stock worth $3,615,000 after buying an additional 41,127 shares during the period. Hedge funds and other institutional investors own 46.41% of the company’s stock.

Teekay Corporation (NYSE:TK) opened at 9.24 on Wednesday. The firm’s market capitalization is $797.03 million. The company’s 50-day moving average price is $8.26 and its 200 day moving average price is $8.38. Teekay Corporation has a one year low of $5.14 and a one year high of $11.77.

Teekay Corporation (NYSE:TK) last issued its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.07. The firm had revenue of $513.90 million for the quarter, compared to the consensus estimate of $503.65 million. Teekay Corporation had a negative net margin of 5.66% and a negative return on equity of 2.80%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. On average, analysts forecast that Teekay Corporation will post ($1.11) earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, August 4th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, August 2nd. Teekay Corporation’s payout ratio is currently -15.38%.

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Several equities analysts recently issued reports on TK shares. ValuEngine raised Teekay Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Teekay Corporation in a report on Friday, June 16th. BidaskClub raised Teekay Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised Teekay Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $7.00 price objective on shares of Teekay Corporation in a report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Teekay Corporation presently has a consensus rating of “Hold” and an average target price of $5.33.

Teekay Corporation Company Profile

Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.

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Institutional Ownership by Quarter for Teekay Corporation (NYSE:TK)

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