Teekay (NYSE:TK) Reaches New 52-Week Low – Time to Sell?

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 traded. The stock had previously closed at $6.12.

Analyst Upgrades and Downgrades

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

Teekay Price Performance

The company has a market cap of $584.08 million, a price-to-earnings ratio of 4.24 and a beta of 0.56. The firm has a fifty day simple moving average of $7.70 and a 200 day simple moving average of $8.26.

Teekay Announces Dividend

The company also recently declared a — dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a $1.00 dividend. The ex-dividend date was Wednesday, December 4th. Teekay’s dividend payout ratio is 16.67%.

Hedge Funds Weigh In On Teekay

A number of institutional investors have recently added to or reduced their stakes in TK. CWM LLC boosted its position in Teekay by 135.2% in the second quarter. CWM LLC now owns 3,391 shares of the shipping company’s stock valued at $30,000 after buying an additional 1,949 shares in the last quarter. Point72 DIFC Ltd raised its stake in shares of Teekay by 885.2% during the second quarter. Point72 DIFC Ltd now owns 4,798 shares of the shipping company’s stock worth $43,000 after acquiring an additional 4,311 shares in the last quarter. Quarry LP boosted its stake in shares of Teekay by 90.6% during the second quarter. Quarry LP now owns 8,415 shares of the shipping company’s stock valued at $75,000 after purchasing an additional 4,000 shares during the period. MML Investors Services LLC purchased a new stake in Teekay in the 3rd quarter worth approximately $100,000. Finally, PDT Partners LLC purchased a new stake in shares of Teekay in the 3rd quarter worth about $141,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.

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.