Teekay Sees Unusually Large Options Volume (TK)

Teekay (NYSE:TK) saw some unusual options trading activity on Thursday. Stock traders purchased 1,888 call options on the company. This represents an increase of 2,231% compared to the typical daily volume of 81 call options.

A number of hedge funds and other institutional investors have recently bought and sold shares of TK. Macquarie Group Ltd. bought a new stake in Teekay during the 4th quarter worth approximately $103,000. Neuberger Berman Group LLC bought a new stake in Teekay during the 1st quarter worth approximately $105,000. Jane Street Group LLC bought a new stake in Teekay during the 4th quarter worth approximately $107,000. Element Capital Management LLC bought a new stake in Teekay during the 1st quarter worth approximately $161,000. Finally, MetLife Investment Advisors LLC bought a new stake in Teekay during the 4th quarter worth approximately $212,000. 24.13% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on TK shares. Morgan Stanley upped their target price on shares of Teekay from $3.00 to $6.00 and gave the company an “underweight” rating in a research report on Monday, February 12th. Zacks Investment Research downgraded shares of Teekay from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. Finally, ValuEngine downgraded shares of Teekay from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Teekay stock opened at $8.11 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.61 and a current ratio of 0.61. Teekay has a 1 year low of $8.91 and a 1 year high of $8.99. The stock has a market cap of $903.91 million, a price-to-earnings ratio of -5.88 and a beta of 1.31.

Teekay (NYSE:TK) last announced its quarterly earnings results on Thursday, May 17th. The shipping company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.11). The company had revenue of $394.02 million during the quarter, compared to the consensus estimate of $296.76 million. Teekay had a negative net margin of 8.05% and a negative return on equity of 3.53%. The business’s revenue was down 27.5% compared to the same quarter last year. During the same period last year, the company earned ($0.41) earnings per share. analysts forecast that Teekay will post 0.31 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 16th. Stockholders of record on Friday, May 4th were paid a $0.055 dividend. The ex-dividend date was Thursday, May 3rd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.71%. Teekay’s dividend payout ratio (DPR) is presently -15.94%.

About Teekay

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers, floating storage and offloading (FSO) units, HiLoad dynamic positioning units, and long-distance towing and offshore installation vessels, as well as offers offshore accommodation, storage, and support for maintenance and modification projects.

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