Northern Trust Corp lifted its position in shares of Teekay Corporation (NYSE:TK) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,071,989 shares of the company’s stock after purchasing an additional 88,261 shares during the period. Northern Trust Corp owned 1.24% of Teekay Corporation worth $7,151,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TK. Russell Investments Group Ltd. bought a new position in shares of Teekay Corporation during the first quarter valued at about $154,000. Bank of New York Mellon Corp lifted its position in shares of Teekay Corporation by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 256,923 shares of the company’s stock valued at $2,351,000 after purchasing an additional 7,475 shares in the last quarter. American International Group Inc. lifted its position in shares of Teekay Corporation by 17.2% during the first quarter. American International Group Inc. now owns 29,629 shares of the company’s stock valued at $271,000 after purchasing an additional 4,359 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Teekay Corporation by 8.6% during the first quarter. Alliancebernstein L.P. now owns 71,700 shares of the company’s stock valued at $656,000 after purchasing an additional 5,700 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Teekay Corporation by 2.9% during the first quarter. California Public Employees Retirement System now owns 287,800 shares of the company’s stock valued at $2,633,000 after purchasing an additional 8,200 shares in the last quarter. 31.46% of the stock is currently owned by institutional investors.
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Shares of Teekay Corporation (TK) opened at C$9.12 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.55 and a quick ratio of 0.55. Teekay Corporation has a 12-month low of C$5.14 and a 12-month high of C$11.77.
Teekay Corporation (NYSE:TK) last posted its earnings results on Thursday, November 9th. The company reported C($0.41) earnings per share for the quarter, topping the consensus estimate of C($0.44) by C$0.03. The firm had revenue of C$500.80 million during the quarter, compared to the consensus estimate of C$475.32 million. Teekay Corporation had a negative net margin of 6.66% and a negative return on equity of 3.18%. The company’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.23) earnings per share. sell-side analysts forecast that Teekay Corporation will post -1.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, November 3rd will be paid a $0.055 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.22 annualized dividend and a dividend yield of 2.41%. Teekay Corporation’s payout ratio is -13.33%.
Several brokerages have commented on TK. ValuEngine raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. BidaskClub raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Teekay Corporation in a research report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$7.00.
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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