Luzich Partners LLC lifted its position in Teekay Offshore Partners L.P. (NYSE:TOO) by 27.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,188,335 shares of the shipping company’s stock after buying an additional 257,700 shares during the period. Teekay Offshore Partners L.P. comprises 3.4% of Luzich Partners LLC’s holdings, making the stock its 12th largest position. Luzich Partners LLC owned 0.77% of Teekay Offshore Partners L.P. worth $3,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp acquired a new position in Teekay Offshore Partners L.P. in the 1st quarter worth $113,000. Creative Planning boosted its stake in Teekay Offshore Partners L.P. by 20.7% in the 2nd quarter. Creative Planning now owns 36,188 shares of the shipping company’s stock worth $104,000 after purchasing an additional 6,215 shares during the period. Global X Management Co. LLC boosted its stake in Teekay Offshore Partners L.P. by 3.9% in the 1st quarter. Global X Management Co. LLC now owns 40,054 shares of the shipping company’s stock worth $203,000 after purchasing an additional 1,487 shares during the period. Brookfield Asset Management Inc. acquired a new position in Teekay Offshore Partners L.P. in the 1st quarter worth $238,000. Finally, Jane Street Group LLC acquired a new position in Teekay Offshore Partners L.P. in the 1st quarter worth $347,000. Institutional investors and hedge funds own 48.35% of the company’s stock.

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A number of brokerages recently weighed in on TOO. Zacks Investment Research raised shares of Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Thursday, July 13th. UBS AG lowered shares of Teekay Offshore Partners L.P. from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 27th. Wells Fargo & Company raised shares of Teekay Offshore Partners L.P. from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $3.50 to $4.00 in a research note on Thursday, September 14th. ValuEngine upgraded shares of Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Morgan Stanley downgraded shares of Teekay Offshore Partners L.P. from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $5.50 to $2.00 in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $3.95.

Shares of Teekay Offshore Partners L.P. (TOO) traded up 0.40% during midday trading on Friday, reaching $2.50. 142,666 shares of the company traded hands. The firm has a market capitalization of $384.65 million, a PE ratio of 4.36 and a beta of 2.76. Teekay Offshore Partners L.P. has a 12-month low of $1.65 and a 12-month high of $6.69. The company has a 50-day moving average of $2.44 and a 200 day moving average of $3.34.

Teekay Offshore Partners L.P. (NYSE:TOO) last released its quarterly earnings results 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. Teekay Offshore Partners L.P. had a net margin of 11.51% and a return on equity of 5.24%. The business had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $270.00 million. During the same period in the previous year, the company earned $0.22 earnings per share. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. On average, equities analysts forecast that Teekay Offshore Partners L.P. will post $0.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, November 3rd will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, November 2nd. Teekay Offshore Partners L.P.’s payout ratio is 8.16%.

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

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