Teekay (NYSE:TK) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Shares of Teekay Corporation Ltd. (NYSE:TK) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.63 and traded as high as $10.09. Teekay shares last traded at $9.8940, with a volume of 739,761 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Teekay Stock Up 0.9%

The company’s 50-day moving average is $9.53 and its 200 day moving average is $8.63. The company has a market cap of $908.66 million, a price-to-earnings ratio of 7.02 and a beta of 0.18.

Hedge Funds Weigh In On Teekay

A number of hedge funds have recently bought and sold shares of TK. State of Alaska Department of Revenue purchased a new stake in shares of Teekay in the third quarter valued at approximately $27,000. Cubist Systematic Strategies LLC acquired a new stake in Teekay in the 1st quarter valued at $48,000. Tower Research Capital LLC TRC increased its holdings in Teekay by 194.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock worth $63,000 after acquiring an additional 5,022 shares in the last quarter. Osaic Holdings Inc. raised its position in Teekay by 1,008.8% during the second quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company’s stock worth $86,000 after acquiring an additional 9,513 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Teekay during the second quarter worth $91,000. Hedge funds and other institutional investors own 46.73% of the company’s stock.

About Teekay

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.