Empowered Funds LLC Invests $4.95 Million in Teekay Co. (NYSE:TK)

Empowered Funds LLC bought a new stake in Teekay Co. (NYSE:TK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 713,591 shares of the shipping company’s stock, valued at approximately $4,945,000. Empowered Funds LLC owned approximately 0.78% of Teekay at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Diversified Trust Co boosted its holdings in shares of Teekay by 13.2% in the fourth quarter. Diversified Trust Co now owns 16,090 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 1,879 shares during the period. Summit Global Investments boosted its stake in Teekay by 4.6% during the 3rd quarter. Summit Global Investments now owns 78,699 shares of the shipping company’s stock worth $724,000 after purchasing an additional 3,474 shares during the period. Caprock Group LLC grew its position in Teekay by 15.1% during the 3rd quarter. Caprock Group LLC now owns 28,009 shares of the shipping company’s stock worth $258,000 after purchasing an additional 3,674 shares during the last quarter. R Squared Ltd purchased a new position in Teekay during the 4th quarter worth $27,000. Finally, DGS Capital Management LLC increased its stake in Teekay by 13.2% in the fourth quarter. DGS Capital Management LLC now owns 43,909 shares of the shipping company’s stock valued at $304,000 after purchasing an additional 5,122 shares during the period. 46.73% of the stock is owned by hedge funds and other institutional investors.

Teekay Stock Performance

Shares of TK opened at $7.20 on Wednesday. Teekay Co. has a fifty-two week low of $5.98 and a fifty-two week high of $9.95. The firm has a 50-day simple moving average of $6.91 and a 200-day simple moving average of $7.77. The company has a market capitalization of $660.79 million, a price-to-earnings ratio of 4.80 and a beta of 0.51.

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.