Teekay (NYSE:TK) Trading Down 4.7%

Teekay Co. (NYSE:TK)’s stock price traded down 4.7% during trading on Friday . The company traded as low as $8.51 and last traded at $8.52. 256,520 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 647,447 shares. The stock had previously closed at $8.94.

Teekay Price Performance

The stock’s fifty day simple moving average is $8.91 and its 200-day simple moving average is $8.11. The stock has a market cap of $773.08 million, a P/E ratio of 5.52 and a beta of 0.64.

Teekay (NYSE:TK) last posted its quarterly earnings data on Thursday, May 9th. The shipping company reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $365.05 million during the quarter. Teekay had a net margin of 11.09% and a return on equity of 7.97%.

Teekay Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 105.88%. The ex-dividend date of this dividend was Monday, May 20th. This is an increase from Teekay’s previous quarterly dividend of $0.06. Teekay’s dividend payout ratio is 61.73%.

Institutional Investors Weigh In On Teekay

Several hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of Teekay during the 3rd quarter worth $1,959,000. Exchange Traded Concepts LLC bought a new position in shares of Teekay during the 4th quarter worth about $406,000. SG Americas Securities LLC lifted its holdings in shares of Teekay by 94.4% during the 4th quarter. SG Americas Securities LLC now owns 58,937 shares of the shipping company’s stock worth $421,000 after acquiring an additional 28,619 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Teekay by 23.0% during the 4th quarter. Ritholtz Wealth Management now owns 179,779 shares of the shipping company’s stock worth $1,285,000 after acquiring an additional 33,646 shares during the period. Finally, Camelot Portfolios LLC lifted its holdings in shares of Teekay by 16.3% during the 4th quarter. Camelot Portfolios LLC now owns 143,000 shares of the shipping company’s stock worth $1,022,000 after acquiring an additional 20,000 shares during the period. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Company Profile

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.