PARK CIRCLE Co held its position in Teekay Offshore Partners L.P. (NYSE:TOO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,000 shares of the shipping company’s stock at the end of the second quarter. PARK CIRCLE Co’s holdings in Teekay Offshore Partners L.P. were worth $201,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Neuberger Berman Group LLC raised its position in Teekay Offshore Partners L.P. by 3.1% in the second quarter. Neuberger Berman Group LLC now owns 489,735 shares of the shipping company’s stock worth $1,406,000 after buying an additional 14,900 shares during the period. Ballentine Partners LLC bought a new stake in shares of Teekay Offshore Partners L.P. during the second quarter worth about $249,000. Eagle Global Advisors LLC increased its stake in shares of Teekay Offshore Partners L.P. by 5.3% in the second quarter. Eagle Global Advisors LLC now owns 11,588,773 shares of the shipping company’s stock worth $33,260,000 after buying an additional 583,080 shares in the last quarter. Creative Planning increased its stake in shares of Teekay Offshore Partners L.P. by 20.7% in the second quarter. Creative Planning now owns 36,188 shares of the shipping company’s stock worth $104,000 after buying an additional 6,215 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC increased its stake in shares of Teekay Offshore Partners L.P. by 0.6% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 651,369 shares of the shipping company’s stock worth $1,869,000 after buying an additional 3,944 shares in the last quarter. 48.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Teekay Offshore Partners L.P. (NYSE:TOO) opened at 2.35 on Tuesday. The company has a market capitalization of $361.57 million, a P/E ratio of 4.01 and a beta of 2.72. The stock’s 50 day moving average price is $2.50 and its 200 day moving average price is $3.93. Teekay Offshore Partners L.P. has a 52-week low of $1.65 and a 52-week high of $6.69.

Teekay Offshore Partners L.P. (NYSE:TOO) last announced its quarterly earnings data on Thursday, August 3rd. The shipping company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.12. Teekay Offshore Partners L.P. had a return on equity of 5.24% and a net margin of 11.51%. The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $270 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Teekay Offshore Partners L.P.’s revenue for the quarter was down 14.0% compared to the same quarter last year. On average, equities research analysts forecast that Teekay Offshore Partners L.P. will post $0.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Monday, August 7th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, August 3rd. Teekay Offshore Partners L.P.’s payout ratio is currently 8.16%.

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A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research report on Thursday, July 13th. ValuEngine downgraded Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. UBS AG downgraded Teekay Offshore Partners L.P. from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 27th. Morgan Stanley downgraded Teekay Offshore Partners L.P. from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $5.50 to $2.00 in a research report on Friday, June 9th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Teekay Offshore Partners L.P. in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $3.94.

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.

Institutional Ownership by Quarter for Teekay Offshore Partners L.P. (NYSE:TOO)

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