Teekay Co. (NYSE:TK) Sees Large Increase in Short Interest

Teekay Co. (NYSE:TK) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 893,900 shares, an increase of 37.1% from the December 15th total of 652,100 shares. Based on an average trading volume of 945,800 shares, the days-to-cover ratio is currently 0.9 days. Approximately 1.5% of the company’s shares are short sold.

Teekay Price Performance

Shares of TK traded down $0.18 during midday trading on Thursday, hitting $7.62. The stock had a trading volume of 181,499 shares, compared to its average volume of 710,311. Teekay has a 1 year low of $5.98 and a 1 year high of $9.95. The firm has a market cap of $699.82 million, a PE ratio of 5.08 and a beta of 0.54. The stock’s 50 day moving average is $7.15 and its 200 day moving average is $7.95.

Teekay Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TK. Renaissance Technologies LLC increased its stake in Teekay by 19.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock worth $36,114,000 after buying an additional 649,900 shares during the period. JPMorgan Chase & Co. grew its holdings in Teekay by 108.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company’s stock worth $6,489,000 after acquiring an additional 367,527 shares in the last quarter. American Century Companies Inc. grew its holdings in Teekay by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock worth $13,871,000 after acquiring an additional 331,002 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Teekay by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after acquiring an additional 176,641 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Teekay by 26.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 358,685 shares of the shipping company’s stock worth $3,217,000 after acquiring an additional 74,461 shares in the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Company Profile

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.