Teekay Co. (NYSE:TK) Short Interest Up 47.6% in May

Teekay Co. (NYSE:TK) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 569,900 shares, an increase of 47.6% from the May 15th total of 386,200 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily volume of 608,900 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On Teekay

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in Teekay by 10.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,814 shares of the shipping company’s stock worth $130,000 after acquiring an additional 1,747 shares in the last quarter. Stokes Family Office LLC increased its holdings in Teekay by 13.3% in the 3rd quarter. Stokes Family Office LLC now owns 21,749 shares of the shipping company’s stock worth $134,000 after acquiring an additional 2,553 shares in the last quarter. DGS Capital Management LLC increased its holdings in Teekay by 24.6% in the 1st quarter. DGS Capital Management LLC now owns 14,974 shares of the shipping company’s stock worth $109,000 after acquiring an additional 2,958 shares in the last quarter. Jump Financial LLC increased its holdings in Teekay by 5.6% in the 4th quarter. Jump Financial LLC now owns 84,984 shares of the shipping company’s stock worth $608,000 after acquiring an additional 4,484 shares in the last quarter. Finally, Quadrature Capital Ltd increased its holdings in Teekay by 7.5% in the 4th quarter. Quadrature Capital Ltd now owns 68,668 shares of the shipping company’s stock worth $491,000 after acquiring an additional 4,799 shares in the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Price Performance

Teekay stock traded down $0.37 during mid-day trading on Friday, reaching $8.72. The stock had a trading volume of 499,159 shares, compared to its average volume of 629,613. The company has a market capitalization of $793.08 million, a price-to-earnings ratio of 5.38 and a beta of 0.66. The company has a 50-day moving average price of $8.45 and a two-hundred day moving average price of $7.91. Teekay has a one year low of $5.70 and a one year high of $9.95.

Teekay (NYSE:TK) last posted its earnings results on Thursday, May 9th. The shipping company reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $365.05 million for the quarter. Teekay had a net margin of 11.09% and a return on equity of 7.97%.

Teekay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $9.00 annualized dividend and a dividend yield of 103.21%. This is a positive change from Teekay’s previous quarterly dividend of $0.06. Teekay’s dividend payout ratio is presently 61.73%.

About Teekay

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.