Teekay (NYSE:TK) Stock Price Down 5.1%

Teekay Co. (NYSE:TK) shares traded down 5.1% during trading on Friday . The company traded as low as $3.53 and last traded at $3.54, 502,368 shares changed hands during trading. A decline of 27% from the average session volume of 689,955 shares. The stock had previously closed at $3.73.

A number of analysts recently commented on the company. Wells Fargo & Co set a $4.00 price target on Teekay and gave the company a “hold” rating in a research report on Friday, May 31st. Zacks Investment Research downgraded Teekay from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, ValuEngine raised Teekay from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd.

The firm has a fifty day simple moving average of $3.96 and a two-hundred day simple moving average of $3.88. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.55.

Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, August 1st. The shipping company reported ($0.13) earnings per share for the quarter. Teekay had a negative net margin of 8.34% and a negative return on equity of 1.42%. The firm had revenue of $358.99 million for the quarter.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Teekay by 8.8% in the second quarter. BlackRock Inc. now owns 3,674,758 shares of the shipping company’s stock worth $12,640,000 after acquiring an additional 297,524 shares during the period. FMR LLC boosted its holdings in shares of Teekay by 1.4% in the fourth quarter. FMR LLC now owns 2,174,122 shares of the shipping company’s stock worth $7,262,000 after acquiring an additional 29,154 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Teekay by 24.4% in the second quarter. Renaissance Technologies LLC now owns 1,619,200 shares of the shipping company’s stock worth $5,570,000 after acquiring an additional 317,400 shares during the period. Northern Trust Corp boosted its holdings in shares of Teekay by 2.9% in the second quarter. Northern Trust Corp now owns 777,108 shares of the shipping company’s stock worth $2,673,000 after acquiring an additional 21,606 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Teekay by 19.4% in the fourth quarter. Geode Capital Management LLC now owns 245,755 shares of the shipping company’s stock worth $820,000 after acquiring an additional 39,881 shares during the period. 19.73% of the stock is owned by institutional investors and hedge funds.

About Teekay (NYSE:TK)

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers; floating production, storage, and offloading units; floating storage and offloading units; HiLoad dynamic positioning units; long-distance towing and offshore installation vessels; and conventional tankers.

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