Rhumbline Advisers reduced its position in Teekay Corporation Ltd. (NYSE:TK – Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,432 shares of the shipping company’s stock after selling 4,997 shares during the period. Rhumbline Advisers owned 0.12% of Teekay worth $745,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in shares of Teekay by 9.9% in the fourth 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 worth $13,013,000 after buying 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 worth $7,231,000 after buying an additional 338,105 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Teekay by 25.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 474,428 shares of the shipping company’s stock worth $3,333,000 after buying an additional 96,155 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Teekay during the fourth quarter worth approximately $3,245,000. 46.73% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Wall Street Zen cut Teekay from a “buy” rating to a “hold” rating in a research note on Monday, May 19th.
Teekay Price Performance
Shares of NYSE TK opened at $9.03 on Friday. The business’s 50 day moving average is $7.94 and its two-hundred day moving average is $7.16. Teekay Corporation Ltd. has a 1-year low of $5.65 and a 1-year high of $9.78. The stock has a market capitalization of $828.86 million, a P/E ratio of 6.40 and a beta of 0.48.
Teekay Dividend Announcement
The firm also recently announced a — dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, July 2nd.
Teekay Company 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.
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