Teekay (NYSE:TK) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Teekay Corporation Ltd. (NYSE:TK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.70 and traded as high as $11.42. Teekay shares last traded at $11.2820, with a volume of 638,063 shares.

Wall Street Analyst Weigh In

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

Teekay Trading Down 0.8%

The stock has a market capitalization of $1.04 billion, a PE ratio of 9.98 and a beta of 0.13. The business’s 50 day moving average is $10.97 and its 200 day moving average is $9.70.

Teekay (NYSE:TK) last posted its quarterly earnings data on Friday, March 13th. The shipping company reported $0.37 earnings per share for the quarter. The company had revenue of $243.09 million for the quarter. Teekay had a net margin of 10.33% and a return on equity of 4.76%.

Institutional Investors Weigh In On Teekay

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mercuria Capital Strategies LLC bought a new position in shares of Teekay in the fourth quarter worth about $11,091,000. JPMorgan Chase & Co. lifted its holdings in Teekay by 130.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,983,752 shares of the shipping company’s stock valued at $16,366,000 after buying an additional 1,122,843 shares in the last quarter. Millennium Management LLC lifted its holdings in Teekay by 153.8% during the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after buying an additional 720,093 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Teekay by 40.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,104,437 shares of the shipping company’s stock valued at $17,362,000 after buying an additional 604,666 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Teekay in the 4th quarter valued at about $4,066,000. 46.73% of the stock is owned by institutional investors.

Teekay Company Profile

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.