New York State Common Retirement Fund Has $367,000 Position in Teekay Corporation (TK)
New York State Common Retirement Fund boosted its position in shares of Teekay Corporation (NYSE:TK) by 34.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,000 shares of the shipping company’s stock after acquiring an additional 13,999 shares during the period. New York State Common Retirement Fund owned 0.06% of Teekay Corporation worth $367,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in Teekay Corporation during the first quarter valued at approximately $176,000. American Asset Management Inc. purchased a new stake in Teekay Corporation during the second quarter valued at approximately $181,000. American International Group Inc. lifted its position in Teekay Corporation by 17.2% during the first quarter. American International Group Inc. now owns 29,629 shares of the shipping company’s stock valued at $271,000 after acquiring an additional 4,359 shares during the last quarter. Benchmark Capital Advisors purchased a new stake in Teekay Corporation during the second quarter valued at approximately $243,000. Finally, Malaga Cove Capital LLC purchased a new stake in Teekay Corporation during the second quarter valued at approximately $310,000. 31.71% of the stock is owned by institutional investors.
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TK has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. BidaskClub upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Finally, Jefferies Group LLC restated a “hold” rating and set a $8.00 price target on shares of Teekay Corporation in a research note on Thursday, October 12th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.00.
Teekay Corporation (NYSE:TK) opened at $8.51 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.49. Teekay Corporation has a 52 week low of $5.14 and a 52 week high of $11.77.
Teekay Corporation (NYSE:TK) last issued its quarterly earnings results on Thursday, November 9th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.03. Teekay Corporation had a negative net margin of 6.66% and a negative return on equity of 3.18%. The business had revenue of $500.80 million for the quarter, compared to analyst estimates of $475.32 million. During the same quarter in the prior year, the business posted ($0.23) EPS. Teekay Corporation’s revenue for the quarter was down 8.5% compared to the same quarter last year. sell-side analysts forecast that Teekay Corporation will post -1.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd were paid a dividend of $0.055 per share. The ex-dividend date was Thursday, November 2nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.59%. Teekay Corporation’s payout ratio is -13.33%.
Teekay Corporation 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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