Federated Investors Inc. PA Sells 112,379 Shares of Teekay Co. (TK)

Federated Investors Inc. PA reduced its position in Teekay Co. (NYSE:TK) by 65.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,617 shares of the shipping company’s stock after selling 112,379 shares during the period. Federated Investors Inc. PA owned approximately 0.07% of Teekay worth $471,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Creative Planning increased its position in shares of Teekay by 2.0% in the third quarter. Creative Planning now owns 23,880 shares of the shipping company’s stock worth $184,000 after buying an additional 465 shares in the last quarter. Bank of Montreal Can increased its position in shares of Teekay by 55.4% in the third quarter. Bank of Montreal Can now owns 25,562 shares of the shipping company’s stock worth $197,000 after buying an additional 9,114 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Teekay by 118.9% in the third quarter. Advisors Asset Management Inc. now owns 36,889 shares of the shipping company’s stock worth $284,000 after buying an additional 20,040 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Teekay during the third quarter worth approximately $381,000. Finally, California Public Employees Retirement System increased its position in shares of Teekay by 29.4% in the third quarter. California Public Employees Retirement System now owns 222,900 shares of the shipping company’s stock worth $1,719,000 after buying an additional 50,700 shares in the last quarter. Institutional investors and hedge funds own 51.41% of the company’s stock.

Institutional Ownership by Quarter for Teekay (NYSE:TK)

Teekay Co. (NYSE:TK) traded down 1.510% during midday trading on Friday, reaching $8.805. 943,695 shares of the company were exchanged. Teekay Co. has a 52 week low of $5.45 and a 52 week high of $11.85. The company’s market capitalization is $758.10 million. The firm has a 50-day moving average price of $9.33 and a 200-day moving average price of $8.74.

Teekay (NYSE:TK) last released its quarterly earnings data on Thursday, February 23rd. The shipping company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.12. The business earned $552.20 million during the quarter, compared to analyst estimates of $545.38 million. Teekay had a positive return on equity of 0.13% and a negative net margin of 3.32%. The business’s revenue for the quarter was down 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. Equities research analysts anticipate that Teekay Co. will post ($0.34) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 17th. Shareholders of record on Friday, May 5th will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, May 3rd. Teekay’s dividend payout ratio is presently -18.03%.

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Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Teekay from a “hold” rating to a “strong sell” rating in a research report on Friday, February 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $8.50 price target on shares of Teekay in a research report on Monday, March 27th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $7.56.

Teekay 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.

5 Day Chart for NYSE:TK

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