Somewhat Negative Media Coverage Likely to Affect Teekay Offshore Partners L.P. (TOO) Share Price
Media stories about Teekay Offshore Partners L.P. (NYSE:TOO) have trended somewhat negative on Thursday, Accern Sentiment Analysis reports. The research group identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Teekay Offshore Partners L.P. earned a media sentiment score of -0.07 on Accern’s scale. Accern also gave press coverage about the shipping company an impact score of 80 out of 100, indicating that recent media coverage is likely to have an impact on the company’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment’s scoring:
- Teekay Offshore Orders Two Shuttle Tankers, Forms New Unit (worldmaritimenews.com)
- Technical Analysis = Teekay Offshore Partners LP (TOO) moves 52.12% away from One Year Low – Voice Of Analysts (analystsbuzz.com)
- Teekay Was the NYSE’s Biggest Gainer Last Week – Market Realist (marketrealist.com)
- Teekay Offshore Partners LP (TOO) Balance Step Levels in Focus – Sparta Review (spartareview.com)
- Teekay Offshore Partners LP (TOO) To Go Ex-Dividend on August 3rd – ExpressNewsline (expressnewsline.com)
Several research analysts have recently weighed in on TOO shares. Citigroup Inc. raised shares of Teekay Offshore Partners L.P. from a “neutral” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Thursday, July 13th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. UBS AG lowered shares of Teekay Offshore Partners L.P. from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 27th. Finally, ValuEngine lowered shares of Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Teekay Offshore Partners L.P. currently has an average rating of “Hold” and a consensus target price of $3.25.
Shares of Teekay Offshore Partners L.P. (TOO) traded down 2.82% on Thursday, reaching $2.41. 1,105,266 shares of the company traded hands. The firm’s market capitalization is $360.78 million. The stock has a 50-day moving average price of $2.43 and a 200 day moving average price of $4.34. Teekay Offshore Partners L.P. has a 1-year low of $1.65 and a 1-year high of $6.69.
Teekay Offshore Partners L.P. (NYSE:TOO) last released its quarterly earnings results on Thursday, May 18th. The shipping company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.22. Teekay Offshore Partners L.P. had a net margin of 4.98% and a return on equity of 7.07%. The firm had revenue of $276.10 million during the quarter, compared to analysts’ expectations of $249.09 million. During the same period in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. Analysts anticipate that Teekay Offshore Partners L.P. will post $0.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Monday, August 7th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.66%. Teekay Offshore Partners L.P.’s dividend payout ratio is presently -176.00%.
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Teekay Offshore Partners L.P. Company Profile
Teekay Offshore Partners L.P. is a provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry in North Sea, Brazil and the East Coast of Canada. The Company operates shuttle tankers; towage vessels; floating, production, storage and off-loading (FPSO) units; floating storage and off-take (FSO) units; units for maintenance and safety (UMS); long-distance towing and offshore installation vessels, and conventional crude oil tankers.
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