In International Shipping News 16/11/2016
Eagle Global Advisors Llc increased its stake in Teekay Corporation (NYSE:TK) by 299.72% based on its latest 2016Q3 regulatory filing with the SEC. Eagle Global Advisors Llc bought 1.88M shares as the company’s stock declined 14.93% while stock markets rallied. The hedge fund held 2.51M shares of the marine transportation company at the end of 2016Q3, valued at $19.36 million, up from 628,110 at the end of the previous reported quarter. Eagle Global Advisors Llc who had been investing in Teekay Corporation for a number of months, seems to be bullish on the $492.37 million market cap company. The stock increased 2.00% or $0.13 on November 11, hitting $6.64. Teekay Corporation (NYSE:TK) has declined 31.97% since April 12, 2016 and is downtrending. It has underperformed by 36.95% the S&P500.
Eagle Global Advisors Llc is a Texas-based hedge fund with more than $3.60 billion AUM in March, 2014. Taken from Eagle Global Advisors latest Adv, the fund reported to have 30 full and part-time employees. Among which 15 performing investment advisory and research functions. The hedge fund had more than 700 clients.
Out of 3 analysts covering Teekay Corporation (NYSE:TK), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. $9 is the highest target while $6 is the lowest. The $7.50 average target is 12.95% above today’s ($6.64) stock price. Teekay Corporation has been the topic of 5 analyst reports since January 19, 2016 according to StockzIntelligence Inc. Jefferies maintained the stock on July 27 with “Hold” rating.
Teekay Corporation is a provider of crude gas and oil marine transportation services. The company has a market cap of $492.37 million. The Firm also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. It currently has negative earnings. The Firm is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the activities in the offshore production, storage and transportation sector.
Source: Chester Independent
