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

Cetera Investment Advisers acquired a new position in shares of Teekay Co. (NYSE:TK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 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 SEC filing.

Other large investors have also modified their holdings of the company. Centiva Capital LP purchased a new stake in shares of Teekay in the fourth quarter valued at $361,000. Bridgeway Capital Management LLC raised its holdings in shares of Teekay by 1.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,877,818 shares of the shipping company's stock worth $13,013,000 after acquiring an additional 34,681 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Teekay by 24.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 23,176 shares of the shipping company's stock worth $161,000 after buying an additional 4,620 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Teekay during the fourth quarter worth $73,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Teekay in the fourth quarter valued at about $252,000. 46.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Teekay Stock Up 2.7%

TK stock traded up $0.22 during trading on Friday, hitting $8.47. The company had a trading volume of 727,248 shares, compared to its average volume of 763,122. The firm has a 50-day moving average price of $7.21 and a 200-day moving average price of $7.05. Teekay Co. has a 12 month low of $5.65 and a 12 month high of $9.89. The stock has a market cap of $777.85 million, a price-to-earnings ratio of 6.01 and a beta of 0.37.

Teekay Announces Dividend

The business also recently announced a -- dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay's payout ratio is presently 17.73%.

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.