Cetera Investment Advisers Invests $606,000 in Teekay Co. (NYSE:TK)

Cetera Investment Advisers bought a new stake in shares of Teekay Co. (NYSE:TK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 87,394 shares of the shipping company’s stock, valued at approximately $606,000. Cetera Investment Advisers owned approximately 0.10% of Teekay as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TK. American Century Companies Inc. increased its stake in Teekay by 9.9% in the 4th quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company’s stock worth $14,013,000 after buying an additional 181,474 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Teekay by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,877,818 shares of the shipping company’s stock valued at $13,013,000 after acquiring an additional 34,681 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Teekay by 47.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,043,479 shares of the shipping company’s stock valued at $7,231,000 after acquiring an additional 338,105 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Teekay in the fourth quarter worth about $4,945,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Teekay by 25.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 474,428 shares of the shipping company’s stock worth $3,333,000 after purchasing an additional 96,155 shares in the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Price Performance

Teekay stock opened at $8.33 on Tuesday. Teekay Co. has a 1 year low of $5.65 and a 1 year high of $9.95. The firm’s 50 day moving average price is $7.09 and its 200-day moving average price is $7.03. The stock has a market cap of $764.99 million, a P/E ratio of 5.91 and a beta of 0.37.

Teekay Announces Dividend

The firm also recently announced a — dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay’s dividend payout ratio (DPR) is presently 17.73%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a research note on Monday, May 19th.

Teekay Profile

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.