Barings LLC continued to hold its stake in shares of Teekay Offshore Partners L.P. (NYSE:TOO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,987 shares of the shipping company’s stock at the close of the second quarter. Barings LLC owned 0.06% of Teekay Offshore Partners L.P. worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. FMR LLC grew its holdings in shares of Teekay Offshore Partners L.P. by 2.1% during the second quarter. FMR LLC now owns 14,751,410 shares of the shipping company’s stock worth $42,337,000 after purchasing an additional 302,413 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Teekay Offshore Partners L.P. by 47.7% during the second quarter. Evergreen Capital Management LLC now owns 1,000,932 shares of the shipping company’s stock worth $2,873,000 after purchasing an additional 323,232 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Teekay Offshore Partners L.P. by 3.1% during the second quarter. Neuberger Berman Group LLC now owns 489,735 shares of the shipping company’s stock worth $1,406,000 after purchasing an additional 14,900 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Teekay Offshore Partners L.P. during the second quarter worth about $249,000. Finally, Eagle Global Advisors LLC grew its holdings in shares of Teekay Offshore Partners L.P. by 5.3% during the second 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 last quarter. 48.32% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on the company. Zacks Investment Research raised Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Thursday, July 13th. UBS AG lowered Teekay Offshore Partners L.P. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 27th. Wells Fargo & Company raised Teekay Offshore Partners L.P. from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $3.50 to $4.00 in a report on Thursday, September 14th. ValuEngine raised Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $3.95.

Teekay Offshore Partners L.P. (NYSE TOO) opened at 2.72 on Tuesday. The company’s 50 day moving average price is $2.47 and its 200-day moving average price is $3.22. The stock has a market cap of $418.49 million, a price-to-earnings ratio of 4.75 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 $6.58.

Teekay Offshore Partners L.P. (NYSE:TOO) last issued its earnings results on Thursday, August 3rd. The shipping company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. The business had revenue of $244.60 million for the quarter, compared to analyst estimates of $270.00 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 for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. On average, analysts forecast that Teekay Offshore Partners L.P. will post $0.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, November 3rd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, November 2nd. Teekay Offshore Partners L.P.’s dividend payout ratio is presently 8.16%.

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

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