Caprock Group LLC Grows Stock Position in Teekay Co. (NYSE:TK)

Caprock Group LLC grew its stake in shares of Teekay Co. (NYSE:TK) by 15.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,009 shares of the shipping company’s stock after purchasing an additional 3,674 shares during the period. Caprock Group LLC’s holdings in Teekay were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TK. Renaissance Technologies LLC boosted its stake in shares of Teekay by 19.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock worth $36,114,000 after acquiring an additional 649,900 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Teekay by 27.2% in the second quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after acquiring an additional 331,002 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Teekay by 210.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 337,745 shares of the shipping company’s stock valued at $3,030,000 after purchasing an additional 228,856 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Teekay by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after buying an additional 176,641 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Teekay by 74.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 252,630 shares of the shipping company’s stock worth $2,266,000 after acquiring an additional 107,970 shares during the last quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Teekay from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 28th.

Teekay Trading Up 0.4 %

TK stock opened at $7.93 on Monday. Teekay Co. has a 12-month low of $6.41 and a 12-month high of $9.95. The business’s fifty day moving average price is $8.50 and its 200 day moving average price is $8.56. The company has a market capitalization of $728.26 million, a PE ratio of 5.29 and a beta of 0.60.

Teekay Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, December 4th. Teekay’s dividend payout ratio is presently 16.67%.

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.