Tudor Investment Corp ET AL bought a new position in Teekay Corporation (NYSE:TK) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,235 shares of the shipping company’s stock, valued at approximately $176,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneva Advisors LLC increased its stake in 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 stake in Teekay Corporation during the first quarter valued at $111,000. Nine Chapters Capital Management LLC bought a new stake in Teekay Corporation during the first quarter valued at $141,000. Russell Investments Group Ltd. bought a new stake in Teekay Corporation during the first quarter valued at $154,000. Finally, Gargoyle Investment Advisor L.L.C. bought a new stake in Teekay Corporation during the first quarter valued at $161,000. Hedge funds and other institutional investors own 46.79% of the company’s stock.
Teekay Corporation (NYSE:TK) last issued its quarterly earnings data on Thursday, May 18th. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.24. The business had revenue of $543.50 million for the quarter, compared to analysts’ expectations of $497.83 million. Teekay Corporation had a negative net margin of 5.36% and a negative return on equity of 1.86%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, August 4th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.26%. The ex-dividend date is Wednesday, August 2nd. Teekay Corporation’s payout ratio is -13.41%.
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Several analysts recently weighed in on the company. Zacks Investment Research upgraded Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Jefferies Group LLC restated a “hold” rating and issued a $8.50 price target on shares of Teekay Corporation in a research note on Tuesday, May 2nd. BidaskClub upgraded Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine upgraded Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Teekay Corporation in a research note on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $5.33.
About Teekay Corporation
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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