Teekay Corporation (TK) Shares are Up 7.98%

Teekay Corporation (TK) : Traders are bullish on Teekay Corporation (TK) as it has outperformed the S&P 500 by a wide margin of 4.47% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.8%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.98% in the last 1 week, and is up 3.91% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 4.98% and the 50-Day Moving Average is 11.63%.The 200 Day SMA reached 4.29%


Teekay Corporation (NYSE:TK): After opening at $7.7, the stock dipped to an intraday low of $7.39 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $7.8 and the buying power remained strong till the end. The stock closed at $7.71 for the day, a gain of 1.98% for the day session. The total traded volume was 1,821,780. The stocks close on the previous trading day was $7.71.

Teekay Corporation (TK) : The highest short term price target forecast on Teekay Corporation (TK) is $9 and the lowest target price is $7. A total of 3 equity analysts are currently covering the company. The average price of all the analysts is $8 with a standard deviation of $1.

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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