ValuEngine upgraded shares of Teekay Offshore Partners L.P. (NYSE:TOO) from a sell rating to a hold rating in a report issued on Friday.

Several other analysts also recently weighed in on the stock. Citigroup Inc. upgraded shares of Teekay Offshore Partners L.P. from a neutral rating to a buy rating in a research report on Tuesday, July 25th. Morgan Stanley downgraded shares of Teekay Offshore Partners L.P. from an equal weight rating to an underweight rating and reduced their price target for the company from $5.50 to $2.00 in a research report on Friday, June 9th. Zacks Investment Research upgraded shares of Teekay Offshore Partners L.P. from a strong sell rating to a hold rating in a research report on Wednesday, May 10th. UBS AG downgraded 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, Raymond James Financial, Inc. reiterated a market perform rating on shares of Teekay Offshore Partners L.P. in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Teekay Offshore Partners L.P. has an average rating of Hold and a consensus target price of $3.94.

Teekay Offshore Partners L.P. (NYSE:TOO) opened at 2.25 on Friday. The firm’s 50-day moving average is $2.48 and its 200-day moving average is $3.80. Teekay Offshore Partners L.P. has a 52 week low of $1.65 and a 52 week high of $6.69. The firm has a market cap of $346.18 million, a price-to-earnings ratio of 3.93 and a beta of 2.73.

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

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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 $0.01 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.04 annualized dividend and a yield of 1.78%. Teekay Offshore Partners L.P.’s dividend payout ratio is currently 8.16%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in Teekay Offshore Partners L.P. by 2.1% in the 2nd quarter. FMR LLC now owns 14,751,410 shares of the shipping company’s stock valued at $42,337,000 after buying an additional 302,413 shares during the period. Eagle Global Advisors LLC grew its stake in shares of Teekay Offshore Partners L.P. by 5.3% during the 2nd quarter. Eagle Global Advisors LLC now owns 11,588,773 shares of the shipping company’s stock worth $33,260,000 after purchasing an additional 583,080 shares during the period. Avenir Corp grew its stake in shares of Teekay Offshore Partners L.P. by 7.7% during the 1st quarter. Avenir Corp now owns 1,332,597 shares of the shipping company’s stock worth $6,756,000 after purchasing an additional 95,280 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Teekay Offshore Partners L.P. by 686.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,251,429 shares of the shipping company’s stock worth $6,345,000 after purchasing an additional 1,092,370 shares during the period. Finally, Luzich Partners LLC grew its stake in shares of Teekay Offshore Partners L.P. by 27.7% during the 2nd quarter. Luzich Partners LLC now owns 1,188,335 shares of the shipping company’s stock worth $3,411,000 after purchasing an additional 257,700 shares during the period. 48.36% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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