Analysts Set Teekay Offshore Partners L.P. (NYSE:TOO) PT at $3.25

Teekay Offshore Partners L.P. (NYSE:TOO) has received a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $4.33.

A number of equities research analysts have recently issued reports on the stock. UBS AG set a $3.00 price target on shares of Teekay Offshore Partners L.P. and gave the stock a “buy” rating in a report on Monday, August 7th. Zacks Investment Research downgraded shares of Teekay Offshore Partners L.P. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. 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. Finally, Morgan Stanley downgraded shares of 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 report on Friday, June 9th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Teekay Offshore Partners L.P. by 8.8% in the first quarter. FMR LLC now owns 14,448,997 shares of the shipping company’s stock valued at $73,256,000 after buying an additional 1,170,300 shares during the period. Goldman Sachs Group Inc. boosted its position in Teekay Offshore Partners L.P. by 686.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,251,429 shares of the shipping company’s stock valued at $6,345,000 after buying an additional 1,092,370 shares during the period. Van ECK Associates Corp bought a new position in Teekay Offshore Partners L.P. during the first quarter valued at $4,018,000. Eagle Global Advisors LLC boosted its position in 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 valued at $33,260,000 after buying an additional 583,080 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in Teekay Offshore Partners L.P. by 47.7% in the second quarter. Evergreen Capital Management LLC now owns 1,000,932 shares of the shipping company’s stock valued at $2,873,000 after buying an additional 323,232 shares during the period. Institutional investors own 53.82% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Analysts Set Teekay Offshore Partners L.P. (NYSE:TOO) PT at $3.25” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://stocknewstimes.com/2017/08/12/teekay-offshore-partners-l-p-nysetoo-given-average-rating-of-hold-by-brokerages-updated-updated.html.

Teekay Offshore Partners L.P. (TOO) traded up 0.38% on Tuesday, hitting $2.61. 621,793 shares of the company were exchanged. The stock has a 50 day moving average price of $2.55 and a 200 day moving average price of $4.18. The firm has a market cap of $401.57 million, a price-to-earnings ratio of 4.45 and a beta of 2.72. Teekay Offshore Partners L.P. has a one year low of $1.65 and a one year high of $6.69.

Teekay Offshore Partners L.P. (NYSE:TOO) last released its quarterly earnings data on Thursday, August 3rd. The shipping company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $270 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The company’s revenue 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 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, August 7th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Thursday, August 3rd. Teekay Offshore Partners L.P.’s dividend payout ratio (DPR) is 8.16%.

About Teekay Offshore Partners L.P.

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.

Receive News & Ratings for Teekay Offshore Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Offshore Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply