Teekay Corporation (TK) Shares are Up 6.37%

Teekay Corporation (TK) has been under a strong bear grip, hence the stock is down -8.21% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 6.32% in the past 1 week. The stock has risen by 6.37% in the past week indicating that the buyers are active at lower levels, but the stock is down -7.27% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 1.36% and the 50-Day Moving Average is 10.37%. Teekay Corporation (NYSE:TK): stock turned positive on Friday. Though the stock opened at $6.56, the bulls momentum made the stock top out at $6.61 level for the day. The stock recorded a low of $6.39 and closed the trading day at $6.51, in the green by 0.15%. The total traded volume for the day was 1,052,030. The stock had closed at $6.5 in the previous days trading.


The company Insiders own 2.38% of Teekay Corporation shares according to the proxy statements. Institutional Investors own 52.83% of Teekay Corporation shares. Also, Brokerage firm Jefferies maintains its rating on Teekay Corporation (NYSE:TK). As per the latest information, the brokerage house lowers the price target to $7 per share from a prior target of $9. The shares have been rated Hold. The rating by the firm was issued on July 27, 2016.

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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