Arrowstreet Capital Limited Partnership Grows Position in Teekay Corporation Ltd. $TK

Arrowstreet Capital Limited Partnership grew its stake in shares of Teekay Corporation Ltd. (NYSE:TK) by 40.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,104,437 shares of the shipping company’s stock after purchasing an additional 604,666 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.29% of Teekay worth $17,362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Teekay by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 2,254,112 shares of the shipping company’s stock valued at $18,596,000 after purchasing an additional 121,152 shares in the last quarter. JPMorgan Chase & Co. grew its position in Teekay by 130.4% during the second quarter. JPMorgan Chase & Co. now owns 1,983,752 shares of the shipping company’s stock worth $16,366,000 after buying an additional 1,122,843 shares during the period. Millennium Management LLC increased its holdings in Teekay by 153.8% in the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after buying an additional 720,093 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Teekay by 19.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,022,986 shares of the shipping company’s stock valued at $8,470,000 after buying an additional 164,561 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Teekay by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 924,804 shares of the shipping company’s stock valued at $7,630,000 after acquiring an additional 30,815 shares during the period. 46.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Teekay from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Teekay has a consensus rating of “Hold”.

Teekay Price Performance

Shares of NYSE TK opened at $9.39 on Monday. The firm’s 50-day moving average is $9.17 and its two-hundred day moving average is $8.51. The company has a market capitalization of $862.47 million, a PE ratio of 6.66 and a beta of 0.14. Teekay Corporation Ltd. has a 12-month low of $5.65 and a 12-month high of $10.60.

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.