Teekay (NYSE:TK) Stock Price Down 2.2% – What’s Next?

Teekay Co. (NYSE:TK) shares fell 2.2% during mid-day trading on Tuesday . The stock traded as low as $6.26 and last traded at $6.17. 17,537 shares were traded during trading, a decline of 98% from the average session volume of 715,448 shares. The stock had previously closed at $6.31.

Teekay Price Performance

The company has a market cap of $544.13 million, a P/E ratio of 4.20 and a beta of 0.47. The stock has a 50-day moving average of $6.75 and a 200 day moving average of $7.37.

Teekay (NYSE:TK) last issued its earnings results on Wednesday, February 19th. The shipping company reported $0.19 EPS for the quarter. The company had revenue of $161.63 million during the quarter. Teekay had a net margin of 10.96% and a return on equity of 5.67%.

Hedge Funds Weigh In On Teekay

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Teekay by 108.8% during the third quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company’s stock worth $6,489,000 after acquiring an additional 367,527 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Teekay during the 4th quarter valued at approximately $295,000. MML Investors Services LLC acquired a new position in Teekay during the 3rd quarter worth approximately $100,000. New York State Common Retirement Fund lifted its stake in Teekay by 53.4% in the 4th quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock valued at $60,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Teekay by 7.6% in the 4th quarter. Principal Financial Group Inc. now owns 30,012 shares of the shipping company’s stock valued at $208,000 after purchasing an additional 2,109 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

About Teekay

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.