Teekay Corporation (NYSE:TK) has tumbled 11.09% during the past week and has dropped 19.96% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 10.02%. Teekay Corporation (NYSE:TK) has underperformed the index by 20.69% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Teekay Corporation (NYSE:TK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.50 and $7.42 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.19. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.70, notching a gain of 10.00% for the day. The total traded volume was 2,824,017 . The stock had closed at $7.00 on the previous day.
The company shares have dropped -82.64% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $46.04 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $9.61 and the 200 Day Moving Average price is recorded at $9.93.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm Morgan Stanley maintains its rating on Teekay Corporation (NYSE:TK). The rating major has initiated the coverage with equal-weight rating on the shares. The Analysts at Morgan Stanley raises the price target from $7 per share to $8 per share. The rating by the firm was issued on May 31, 2016. Currently the company Insiders own 2.38% of Teekay Corporation shares according to the proxy statements. Institutional Investors own 53.12% of Teekay Corporation shares.
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.