JPMorgan Chase & Co. Decreases Stake in Teekay Co. (TK)

JPMorgan Chase & Co. reduced its holdings in shares of Teekay Co. (NYSE:TK) by 53.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,867 shares of the shipping company’s stock after selling 185,340 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.19% of Teekay worth $1,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC grew its stake in shares of Teekay by 1.6% during the 2nd quarter. FMR LLC now owns 8,606,199 shares of the shipping company’s stock worth $57,403,000 after acquiring an additional 131,584 shares in the last quarter. State Street Corp boosted its holdings in shares of Teekay by 3.8% in the 2nd quarter. State Street Corp now owns 1,185,982 shares of the shipping company’s stock valued at $7,910,000 after buying an additional 43,160 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Teekay by 9.0% in the 2nd quarter. Northern Trust Corp now owns 1,071,989 shares of the shipping company’s stock valued at $7,151,000 after buying an additional 88,261 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Teekay by 12.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 746,536 shares of the shipping company’s stock valued at $4,980,000 after buying an additional 82,667 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Teekay by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 618,000 shares of the shipping company’s stock valued at $4,122,000 after buying an additional 3,433 shares during the last quarter. 27.73% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the company. ValuEngine raised Teekay from a “strong sell” rating to a “sell” rating in a report on Friday, January 5th. Zacks Investment Research downgraded Teekay from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Jefferies Group reissued a “hold” rating and issued a $8.00 price objective on shares of Teekay in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Teekay currently has an average rating of “Hold” and an average price target of $7.00.

Shares of Teekay Co. (TK) opened at $10.17 on Thursday. The company has a market capitalization of $877.29, a P/E ratio of -6.24 and a beta of 1.69. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.28. Teekay Co. has a twelve month low of $5.14 and a twelve month high of $11.77.

Teekay (NYSE:TK) last released its quarterly earnings data on Thursday, November 9th. The shipping company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.03. Teekay had a negative return on equity of 3.48% and a negative net margin of 6.66%. The company had revenue of $500.80 million during the quarter, compared to the consensus estimate of $475.32 million. During the same quarter in the prior year, the firm posted ($0.23) EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. analysts forecast that Teekay Co. will post -1.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, February 1st. Teekay’s dividend payout ratio is -13.50%.

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Teekay Profile

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, as well as in the operations in the offshore production, storage and transportation sector.

Institutional Ownership by Quarter for Teekay (NYSE:TK)

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