Teekay Co. (NYSE:TK) Shares Purchased by Fmr LLC

Fmr LLC increased its holdings in shares of Teekay Co. (NYSE:TK) by 296.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,797 shares of the shipping company’s stock after purchasing an additional 55,167 shares during the period. Fmr LLC’s holdings in Teekay were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in Teekay by 19.2% during the second quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock valued at $36,114,000 after buying an additional 649,900 shares during the period. American Century Companies Inc. grew its position in shares of Teekay by 27.2% during the 2nd 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 during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Teekay by 210.2% in the 2nd 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 raised its holdings in Teekay by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after purchasing an additional 176,641 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in Teekay by 74.6% during the second quarter. Panagora Asset Management Inc. now owns 252,630 shares of the shipping company’s stock worth $2,266,000 after purchasing an additional 107,970 shares in 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 lowered Teekay from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 28th.

Teekay Stock Up 2.9 %

TK opened at $6.30 on Wednesday. The company has a market cap of $578.59 million, a price-to-earnings ratio of 4.20 and a beta of 0.56. The firm’s fifty day simple moving average is $7.76 and its two-hundred day simple moving average is $8.28. Teekay Co. has a 52-week low of $5.98 and a 52-week high of $9.95.

Teekay Dividend Announcement

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

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.