Cedar Capital LLC boosted its position in Teekay Corporation (NYSE:TK) by 40.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 451,609 shares of the shipping company’s stock after buying an additional 128,993 shares during the period. Teekay Corporation makes up 1.3% of Cedar Capital LLC’s portfolio, making the stock its 14th largest position. Cedar Capital LLC owned about 0.52% of Teekay Corporation worth $3,012,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of TK. Geneva Advisors LLC increased its position in shares of Teekay Corporation by 10.6% in the first quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,057 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Teekay Corporation during the first quarter valued at approximately $111,000. Nine Chapters Capital Management LLC bought a new position in shares of Teekay Corporation during the first quarter valued at approximately $141,000. Russell Investments Group Ltd. bought a new position in shares of Teekay Corporation during the first quarter valued at approximately $154,000. Finally, Gargoyle Investment Advisor L.L.C. bought a new position in shares of Teekay Corporation during the first quarter valued at approximately $161,000. 31.49% of the stock is owned by institutional investors.

Shares of Teekay Corporation (TK) traded down 2.06% during trading on Friday, reaching $9.03. 301,493 shares of the company’s stock traded hands. The company’s market cap is $778.92 million. The company’s 50-day moving average is $8.95 and its 200 day moving average is $8.33. Teekay Corporation has a 52-week low of $5.14 and a 52-week high of $11.77.

Teekay Corporation (NYSE:TK) last announced its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.07. The business had revenue of $513.90 million during the quarter, compared to the consensus estimate of $503.65 million. Teekay Corporation had a negative return on equity of 2.82% and a negative net margin of 5.66%. The company’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Equities analysts forecast that Teekay Corporation will post ($1.11) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Friday, August 4th were issued a $0.055 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.39%. Teekay Corporation’s payout ratio is -15.38%.

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Several brokerages recently commented on TK. Zacks Investment Research raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Royal Bank Of Canada reissued a “hold” rating on shares of Teekay Corporation in a research note on Tuesday, May 9th. ValuEngine raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $7.00 price objective on shares of Teekay Corporation in a research note on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target 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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