Teekay (NYSE:TK) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Teekay Corporation Ltd. (NYSE:TK) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $12.64 and traded as high as $14.41. Teekay shares last traded at $13.8650, with a volume of 445,706 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TK shares. Weiss Ratings raised shares of Teekay from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Wall Street Zen upgraded shares of Teekay from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Teekay Trading Up 2.3%

The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 6.81 and a beta of 0.33. The stock has a 50-day moving average price of $13.83 and a 200 day moving average price of $12.65.

Teekay (NYSE:TK) last issued its quarterly earnings results on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 7.91% and a net margin of 15.78%. During the same quarter in the prior year, the company earned $0.22 EPS.

Insiders Place Their Bets

In related news, Director Rudolph Krediet sold 41,457 shares of Teekay stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $11.45, for a total value of $474,682.65. Following the sale, the director owned 35,167 shares of the company’s stock, valued at approximately $402,662.15. This trade represents a 54.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brody Speers sold 2,350 shares of Teekay stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $13.10, for a total transaction of $30,785.00. Following the completion of the sale, the chief financial officer directly owned 1,014 shares in the company, valued at $13,283.40. This represents a 69.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 190,257 shares of company stock valued at $2,593,468. Corporate insiders own 2.38% of the company’s stock.

Hedge Funds Weigh In On Teekay

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in Teekay by 58.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock valued at $33,796,000 after purchasing an additional 1,029,977 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Teekay by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,405,895 shares of the shipping company’s stock valued at $66,004,000 after purchasing an additional 79,826 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Teekay during the 1st quarter worth $875,000. Hsbc Holdings PLC acquired a new stake in shares of Teekay during the 4th quarter worth about $630,000. Finally, U S Global Investors Inc. purchased a new stake in Teekay in the 1st quarter valued at about $767,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a marine transportation and logistics company focused on the energy industry. Through its interests in affiliated companies, Teekay has been involved in the ownership, operation and management of tankers and other vessels that transport crude oil, refined petroleum products and other energy-related cargoes.

The company’s principal operating exposure is through Teekay Tankers Ltd., which provides seaborne transportation services for crude oil and refined petroleum products.