Teekay (NYSE:TK) Upgraded at Wall Street Zen

Teekay (NYSE:TK) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

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

Teekay Stock Performance

Shares of NYSE TK opened at $11.49 on Friday. The company has a market cap of $1.05 billion, a PE ratio of 10.17 and a beta of 0.13. The business has a 50-day simple moving average of $11.08 and a two-hundred day simple moving average of $9.75. Teekay has a fifty-two week low of $5.65 and a fifty-two week high of $13.76.

Teekay (NYSE:TK) last posted its quarterly earnings data on Friday, March 13th. The shipping company reported $0.37 earnings per share (EPS) for the quarter. The firm 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 Inflows and Outflows

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