Welcome to our dedicated page for Teekay Corporation news (Ticker: TK), a resource for investors and traders seeking the latest updates and insights on Teekay Corporation stock.
Teekay Corporation (NYSE: TK) is a prominent leader in the marine energy sector, established in 1973. Over the decades, Teekay has transformed from a regional shipping company into one of the largest global marine energy transportation, storage, and production entities. The company’s primary mission is to deliver energy worldwide, supporting the global economy and enhancing lives.
Teekay operates significantly in the marine midstream space through its ownership of the general partners and limited partner interests in Teekay LNG Partners L.P. (NYSE:TGP) and Teekay Offshore Partners L.P. (NYSE:TOO). The general partners hold all outstanding incentive distribution rights. Additionally, Teekay maintains a controlling interest in Teekay Tankers Ltd. (NYSE:TNK) and directly owns a vast fleet of vessels.
The consolidated assets managed by Teekay, valued at over $13 billion, encompass more than 215 liquefied gas, offshore, and conventional tanker assets. The company's robust portfolio ensures the safe and efficient transportation of crude oil, LNG, and petroleum products, serving a diverse clientele that includes energy and utility companies, oil traders, large oil and LNG consumers, and governmental agencies.
Teekay's operations are divided into two primary business lines: marine services and conventional tankers. These sectors work in unison to provide offshore oil production, storage, and offloading services under long-term, fixed-rate contracts. Recent achievements include various strategic partnerships and project developments that further solidify its position in the industry.
For more information or investor relations inquiries, visit the official website at www.teekay.com or reach out via email at investor.relations@teekay.com.
Teekay (NYSE:TK) has nearly completed its $25 million share repurchase program, buying back 3.25 million common shares at an average price of $7.49 per share. Since August 2022, Teekay has repurchased a total of 14.97 million common shares, or 14.7% of outstanding shares, for $84.4 million at an average price of $5.64 per share. The company's Board of Directors has now authorized a new $40 million share repurchase program. Repurchases will be made in the open market, through private transactions, and other means permitted by SEC rules, with timing and volume based on market conditions and other factors. All open market repurchases will comply with Rule 10b-18 of the U.S. Securities Exchange Act of 1934.
Teekay (NYSE:TK) and Teekay Tankers (NYSE:TNK) announced senior management changes effective by August 31, 2024. Kevin Mackay, President and CEO, and Stewart Andrade, CFO, will leave Teekay Tankers. Kenneth Hvid, CEO of Teekay , will assume the additional role of President and CEO of Teekay Tankers. Brody Speers, VP of Finance and Treasurer, will become CFO for both companies. Mikkel Seidelin, Head of Chartering & Commercial Ops, is appointed Chief Commercial Officer. These changes aim to simplify Teekay's management structure and enhance value creation for long-term shareholders. The Board thanked Mackay and Andrade for their significant contributions, which include navigating challenging periods and strengthening ship management.
Teekay (NYSE:TK) has released its second quarter 2024 results. As a leading provider of international crude oil marine transportation and other marine services, Teekay operates directly and through its controlling stake in Teekay Tankers (NYSE: TNK). The consolidated Teekay entities manage approximately 65 conventional tankers and other marine assets, including vessels operated for the Australian government. With a global presence across 8 countries and a workforce of about 2,200 employees, Teekay offers comprehensive marine services to major energy companies worldwide. The full earnings report is available on the company's website for detailed financial information and performance metrics.
Teekay (NYSE:TK) and Teekay Tankers (NYSE:TNK) have announced their plans to release second quarter 2024 financial results on August 1, 2024, before the market opens. Teekay Tankers will host a conference call at 11:00 a.m. (ET) on the same day to discuss the results.
Shareholders and interested parties can participate in the live conference call by either:
- Dialing 1(800) 289-0438 (North America) or 1(647) 484-0478 (outside North America) with conference ID code 4650117
- Accessing the webcast on Teekay's website at www.teekay.com
Teekay (TK) reported its first-quarter 2024 results, showcasing its leadership in international crude oil marine transportation and marine services. Teekay manages 64 conventional tankers and various marine assets, offering comprehensive services to top energy companies. The stock is listed on NYSE as 'TK'.
Teekay Group, including Teekay and Teekay Tankers , is set to report their first quarter 2024 financial results on May 9, 2024. Teekay Tankers will host a conference call on the same day at 11:00 a.m. (ET) to discuss the results.
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