Teekay (NYSE:TK) Trading 6.7% Higher – What’s Next?

Teekay Co. (NYSE:TK)’s share price was up 6.7% during mid-day trading on Friday . The company traded as high as $6.46 and last traded at $6.46. Approximately 122,350 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 717,898 shares. The stock had previously closed at $6.06.

Teekay Stock Up 7.0 %

The stock has a market cap of $595.56 million, a PE ratio of 4.58 and a beta of 0.47. The business’s 50-day simple moving average is $6.65 and its 200-day simple moving average is $7.29.

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

Institutional Trading of Teekay

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Teekay by 296.1% in the 3rd quarter. FMR LLC now owns 73,797 shares of the shipping company’s stock worth $679,000 after purchasing an additional 55,167 shares during the period. Verition Fund Management LLC grew its holdings in shares of Teekay by 209.4% during the 3rd quarter. Verition Fund Management LLC now owns 59,291 shares of the shipping company’s stock worth $545,000 after acquiring an additional 40,126 shares during the period. XTX Topco Ltd raised its holdings in Teekay by 165.5% in the third quarter. XTX Topco Ltd now owns 78,490 shares of the shipping company’s stock worth $722,000 after purchasing an additional 48,924 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of Teekay during the 3rd quarter valued at $100,000. Finally, Barclays PLC grew its position in shares of Teekay by 267.9% in the 3rd quarter. Barclays PLC now owns 80,046 shares of the shipping company’s stock worth $736,000 after buying an additional 58,290 shares during the period. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Company Profile

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.