Teekay (NYSE:TK) Sets New 12-Month High – What’s Next?

Teekay Corporation Ltd. (NYSE:TK) shares reached a new 52-week high on Wednesday . The company traded as high as $12.49 and last traded at $12.35, with a volume of 176474 shares. The stock had previously closed at $12.36.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Teekay Price Performance

The company has a market cap of $1.15 billion, a P/E ratio of 8.89 and a beta of 0.20. The business’s 50 day moving average price is $10.04 and its 200-day moving average price is $9.24.

Teekay (NYSE:TK) last issued its quarterly earnings data on Wednesday, February 18th. The shipping company reported $0.40 earnings per share (EPS) for the quarter. Teekay had a return on equity of 5.02% and a net margin of 10.33%.

Institutional Investors Weigh In On Teekay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DGS Capital Management LLC raised its stake in shares of Teekay by 5.2% in the fourth quarter. DGS Capital Management LLC now owns 66,414 shares of the shipping company’s stock worth $600,000 after acquiring an additional 3,261 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Teekay by 0.5% in the fourth quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock valued at $4,279,000 after purchasing an additional 2,382 shares in the last quarter. Susquehanna Portfolio Strategies LLC raised its position in Teekay by 44.2% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 125,619 shares of the shipping company’s stock worth $1,134,000 after purchasing an additional 38,492 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in Teekay by 11.7% during the 4th quarter. Engineers Gate Manager LP now owns 30,504 shares of the shipping company’s stock worth $275,000 after buying an additional 3,196 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Teekay in the 4th quarter valued at $639,000. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Company Profile

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.