Teekay Corporation (TK) : Eagle Global Advisors reduced its stake in Teekay Corporation by 44.22% during the Q4 period. The investment management company now holds a total of 1,236,903 shares of Teekay Corporation which is valued at $11.9 Million after selling 980,679 shares in Teekay Corporation according to the most recent disclosure to the SEC.Teekay Corporation makes up approximately 0.43% of Eagle Global Advisors’s portfolio.
Other Hedge Funds, Including , Bluecrest Capital Management Ltd added TK to its portfolio by purchasing 16,088 company shares during the Fourth Quarter which is valued at $155,410. Teekay Corporation makes up approx 0.01% of Bluecrest Capital Management Ltd’s portfolio. Assetmark Inc added TK to its portfolio by purchasing 25 company shares during the Fourth Quarter which is valued at $242. Landscape Capital Management L.l.c. added TK to its portfolio by purchasing 10,110 company shares during the Fourth Quarter which is valued at $97,663. Teekay Corporation makes up approx 0.01% of Landscape Capital Management L.l.c.’s portfolio. Cornerstone Capital Management Holdings. sold out all of its stake in TK during the fourth quarter. The investment firm sold 1,600 shares of TK which is valued $15,456.Rhumbline Advisers reduced its stake in TK by selling 223 shares or 0.57% during the fourth quarter. The Hedge Fund company now holds 38,883 shares of TK which is valued at $333,616.
On the company’s financial health, Teekay Corporation reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.28 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.13. The company had revenue of $700.10 million for the quarter, compared to analysts expectations of $614.36 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
Investors should note that on Apr 1, 2016, Teekay Corporation announced a cash dividend of $0.0550. The company’s management has announced Apr 27, 2016 as the ex-dividend date and fixed the record date on Apr 29, 2016. The payable date has been fixed on May 19, 2016.
Many Wall Street Analysts have commented on Teekay Corporation. Teekay Corporation was Downgraded by Raymond James to ” Mkt Perform” on Dec 21, 2015. Shares were Downgraded by RBC Capital Mkts on Dec 17, 2015 to ” Sector Perform” and Lowered the Price Target to $ 16 from a previous price target of $52 .Teekay Corporation was Downgraded by Credit Suisse to ” Neutral” on Dec 17, 2015.
Teekay Corporation closed down -0.25 points or -2.99% at $8.11 with 18,67,456 shares getting traded on Monday. Post opening the session at $8.34, the shares hit an intraday low of $8.04 and an intraday high of $8.43 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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 through its subsidiary Teekay LNG Partners L.P. (Teekay LNG). The Company is engaged in the operations in the offshore production storage and transportation sector through its subsidiary Teekay Offshore Partners L.P. (Teekay Offshore) and through its interest in Teekay Petrojarl AS. It is also engaged in the conventional tanker business through its subsidiary Teekay Tankers Ltd. (Teekay Tankers). The Company has four primary lines of business which consist of offshore logistics offshore production liquefied gas carriers and conventional tankers.