Teekay (NYSE:TK) Reaches New 1-Year Low – What’s Next?

Teekay Co. (NYSE:TK) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $5.98 and last traded at $6.10, with a volume of 89300 shares. The stock had previously closed at $6.12.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Teekay from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 28th.

Teekay Stock Performance

The firm’s 50-day moving average price is $7.76 and its two-hundred day moving average price is $8.28. The firm has a market cap of $569.41 million, a PE ratio of 4.08 and a beta of 0.56.

Teekay Dividend Announcement

The company also recently announced a — dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. Teekay’s dividend payout ratio (DPR) is presently 16.67%.

Institutional Trading of Teekay

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Teekay by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after acquiring an additional 176,641 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Teekay by 19.2% in the second quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock valued at $36,114,000 after acquiring an additional 649,900 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Teekay by 2.9% during the second quarter. Acadian Asset Management LLC now owns 1,763,197 shares of the shipping company’s stock worth $15,808,000 after purchasing an additional 50,077 shares in the last quarter. American Century Companies Inc. lifted its position in Teekay by 27.2% in the second quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after purchasing an additional 331,002 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Teekay by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 803,936 shares of the shipping company’s stock valued at $7,452,000 after purchasing an additional 19,961 shares in the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

About Teekay

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.