Virtu Financial LLC purchased a new stake in shares of Teekay Co. (NYSE:TK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 61,395 shares of the shipping company’s stock, valued at approximately $572,000. Virtu Financial LLC owned 0.07% of Teekay as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Teekay by 1.9% in the 4th quarter. BlackRock Inc. now owns 2,525,669 shares of the shipping company’s stock valued at $23,539,000 after purchasing an additional 48,303 shares during the period. State Street Corp boosted its holdings in shares of Teekay by 3.8% in the 2nd quarter. State Street Corp now owns 1,185,982 shares of the shipping company’s stock worth $7,910,000 after acquiring an additional 43,160 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Teekay by 9.0% in the 2nd quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock worth $7,151,000 after acquiring an additional 88,261 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Teekay by 6.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 739,330 shares of the shipping company’s stock worth $6,891,000 after acquiring an additional 48,018 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Teekay by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 618,000 shares of the shipping company’s stock worth $4,122,000 after acquiring an additional 3,433 shares in the last quarter. Hedge funds and other institutional investors own 27.11% of the company’s stock.
Teekay stock opened at $8.64 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $779.82, a price-to-earnings ratio of -4.88 and a beta of 1.42. Teekay Co. has a 12 month low of $5.14 and a 12 month high of $10.90.
Teekay (NYSE:TK) last released its quarterly earnings data on Thursday, February 22nd. The shipping company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.06). Teekay had a negative net margin of 8.05% and a negative return on equity of 3.36%. The firm had revenue of $326.70 million during the quarter, compared to the consensus estimate of $508.35 million. During the same quarter in the prior year, the company earned ($0.22) EPS. Teekay’s quarterly revenue was down 40.8% on a year-over-year basis. sell-side analysts forecast that Teekay Co. will post 0.31 earnings per share for the current year.
Several research analysts have recently commented on the company. ValuEngine raised Teekay from a “strong sell” rating to a “sell” rating in a report on Friday, January 5th. Zacks Investment Research downgraded Teekay from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. Morgan Stanley upped their price objective on Teekay from $3.00 to $6.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Finally, Jefferies Group started coverage on Teekay in a report on Monday, December 18th. They set a “hold” rating and a $8.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.00.
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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