Point72 Asset Management L.P. Purchases 12,800 Shares of Teekay Co. (NYSE:TK)

Point72 Asset Management L.P. grew its holdings in shares of Teekay Co. (NYSE:TK) by 124.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,100 shares of the shipping company’s stock after buying an additional 12,800 shares during the quarter. Point72 Asset Management L.P.’s holdings in Teekay were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings 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 valued at $49,579,000 after buying an additional 176,641 shares in the last quarter. Sei Investments Co. raised its stake in shares of Teekay by 13.4% during the first quarter. Sei Investments Co. now owns 537,009 shares of the shipping company’s stock valued at $3,909,000 after acquiring an additional 63,504 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Teekay by 44.2% in the first quarter. Russell Investments Group Ltd. now owns 185,818 shares of the shipping company’s stock valued at $1,353,000 after purchasing an additional 56,998 shares during the period. American Century Companies Inc. grew its stake in Teekay by 27.2% in the second quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock worth $13,871,000 after purchasing an additional 331,002 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in 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 purchasing an additional 649,900 shares during the period. 46.73% of the stock is owned by 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 Stock Down 1.1 %

Shares of TK opened at $9.49 on Friday. The company has a 50 day moving average of $8.33 and a two-hundred day moving average of $8.35. Teekay Co. has a twelve month low of $5.75 and a twelve month high of $9.95. The company has a market cap of $871.56 million, a price-to-earnings ratio of 5.86 and a beta of 0.60.

Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, August 1st. The shipping company reported $0.35 EPS for the quarter. Teekay had a net margin of 11.18% and a return on equity of 7.03%. The firm had revenue of $326.14 million during the quarter.

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.