Frigate Ventures Lp buys $7,575,016 stake in Teekay Corporation (TK)

Teekay Corporation (TK) : Frigate Ventures Lp scooped up 136,361 additional shares in Teekay Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,163,597 shares of Teekay Corporation which is valued at $7,575,016.Teekay Corporation makes up approximately 2.76% of Frigate Ventures Lp’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management reduced its stake in TK by selling 169,820 shares or 61.54% in the most recent quarter. The Hedge Fund company now holds 106,113 shares of TK which is valued at $690,796. Teekay Corporation makes up approx 0.01% of Riverhead Capital Management’s portfolio.Canada Pension Plan Investment Board boosted its stake in TK in the latest quarter, The investment management firm added 12,700 additional shares and now holds a total of 58,900 shares of Teekay Corporation which is valued at $383,439.New York State Common Retirement Fund reduced its stake in TK by selling 48,900 shares or 49.49% in the most recent quarter. The Hedge Fund company now holds 49,900 shares of TK which is valued at $324,849.Corsair Capital Management reduced its stake in TK by selling 5,200 shares or 18.94% in the most recent quarter. The Hedge Fund company now holds 22,261 shares of TK which is valued at $144,697. Teekay Corporation makes up approx 0.02% of Corsair Capital Management’s portfolio.Capital Fund Management S.a. reduced its stake in TK by selling 95,256 shares or 20.49% in the most recent quarter. The Hedge Fund company now holds 369,577 shares of TK which is valued at $2,357,901. Teekay Corporation makes up approx 0.04% of Capital Fund Management S.a.’s portfolio.

Teekay Corporation opened for trading at $6.64 and hit $6.86 on the upside on Monday, eventually ending the session at $6.81, with a gain of 2.56% or 0.17 points. The heightened volatility saw the trading volume jump to 11,58,514 shares. Company has a market cap of $578 M.

On the company’s financial health, Teekay Corporation reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.22 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.21. The company had revenue of $587.60 million for the quarter, compared to analysts expectations of $539.91 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

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 through its subsidiary Teekay LNG Partners L.P. (Teekay LNG). The Company is engaged in the operations in the offshore production storage and transportation sector through its subsidiary Teekay Offshore Partners L.P. (Teekay Offshore) and through its interest in Teekay Petrojarl AS. It is also engaged in the conventional tanker business through its subsidiary Teekay Tankers Ltd. (Teekay Tankers). The Company has four primary lines of business which consist of offshore logistics offshore production liquefied gas carriers and conventional tankers.

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