Virtus Fund Advisers LLC Reduces Stock Holdings in Teekay Co. (NYSE:TK)

Virtus Fund Advisers LLC cut its position in shares of Teekay Co. (NYSE:TK - Free Report) by 84.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,867 shares of the shipping company's stock after selling 57,289 shares during the period. Virtus Fund Advisers LLC's holdings in Teekay were worth $75,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Teekay by 9.9% during the 4th quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company's stock worth $14,013,000 after purchasing an additional 181,474 shares during the period. Bridgeway Capital Management LLC boosted its position 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 buying an additional 34,681 shares during the period. JPMorgan Chase & Co. grew its stake 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 valued at $7,231,000 after buying an additional 338,105 shares in the last quarter. Empowered Funds LLC purchased a new stake in Teekay during the fourth quarter worth about $4,945,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Teekay by 25.4% during the 4th 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. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Teekay Price Performance

Shares of NYSE TK opened at $8.37 on Monday. The stock's 50-day moving average is $6.86 and its two-hundred day moving average is $7.02. The company has a market cap of $768.67 million, a price-to-earnings ratio of 5.94 and a beta of 0.37. Teekay Co. has a 1-year low of $5.65 and a 1-year high of $9.95.

Teekay (NYSE:TK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The shipping company reported $0.19 earnings per share for the quarter. Teekay had a net margin of 10.96% and a return on equity of 5.67%. The firm had revenue of $161.63 million for the quarter.

Teekay Dividend Announcement

The company also recently disclosed a -- dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. Teekay's dividend payout ratio (DPR) is currently 17.73%.

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.

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