BlackRock Fund Advisors recently announced the acquisition of new stake in Teekay Corporation (NYSE:TK). The institutional investor has increased its shareholding in the Energy company by 6.78% to 3.64 million shares with purchase of 0.23 million shares. This fresh investment now brings its stake to 3.62% valued currently at $22.69 million. In addition, Millennium Management LLC raised its holdings by 2.21 million to 2.7 million shares. And Dimensional Fund Advisors LP has lifted its position by 44.08% or 0.56 million shares – to 1.82 million shares.
With over 1.73 million Teekay Corporation (TK) shares trading Monday and a closing price of $5.76 on the day, the dollar volume was approximately $9.94 million. The shares have shown a positive half year performance of 60.00% and its price on 03/13/23 lost nearly -1.87%. Currently, there are 101.03M common shares owned by the public and among those 70.55M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for TK have a consensus price objective of $3.50. The analysts have set the share’s price value over the next 12 months at a high of $3.50 and a low of $3.50. But a downside of -64.57% will see the stock hit the forecast high price target while median target price for the stock is $3.50.
The top 3 mutual fund holders in Teekay Corporation are Cobas Seleccion, FI, Cobas Internacional, FI, and iShares Russell 2000 ETF. Cobas Seleccion, FI owns 3.62 million shares of the company’s stock, all valued at over $22.59 million. The company sold -0.57 million shares recently to bring their total holdings to about 3.61% of the shares outstanding. Cobas Internacional, FI sold -0.43 million shares to see its total holdings shrink to 2.91 million shares valued at over $18.16 million and representing 2.90% of the shares outstanding. iShares Russell 2000 ETF sold 4842.0 shares to bring its total holdings to over 1.53 million shares at a value of $9.54 million. iShares Russell 2000 ETF now owns shares totaling to 1.52% of the shares outstanding.
Shares of Teekay Corporation (NYSE: TK) opened at $5.70, down -$0.17 from a prior closing price of $5.87. However, the script later moved the day high at 5.87, down -1.87%. The company’s stock has a 5-day price change of -5.57% and 39.81% over the past three months. TK shares are trading 26.87% year to date (YTD), with the 12-month market performance up to 78.88% higher. It has a 12-month low price of $2.54 and touched a high of $6.43 over the same period. TK has an average intraday trading volume of 1.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.05%, 13.22%, and 44.12% respectively.
Institutional ownership of Teekay Corporation (NYSE: TK) shares accounts for 32.40% of the company’s 101.03M shares outstanding. Mutual fund holders own 17.52%, while other institutional holders and individual stakeholders account for 18.64% and — respectively.
It has a market capitalization of $587.17M and a beta (3y monthly) value of 0.80. The stock’s trailing 12-month PE ratio is 16.50, while the earnings-per-share (ttm) stands at $0.35. The company has a PEG of 1.38 and a Quick Ratio of 3.60 with the debt-to-equity ratio at 0.89. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.77% over the week and 4.39% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. EPS should shrink at an annualized rate of 12.00% over the next five years, compared to 16.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Teekay Corporation (TK) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TK, a number of firms have released research notes about the stock. BofA/Merrill stated their Buy rating for the stock in a research note on October 22, 2018, with the firm’s price target at $8. Seaport Global Securities on their part issued Neutral rating on December 17, 2015.
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