Pin Oak Investment Advisors Inc. Invests $383,000 in Teekay Offshore Partners L.P. (TOO)

Pin Oak Investment Advisors Inc. purchased a new stake in shares of Teekay Offshore Partners L.P. (NYSE:TOO) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 162,400 shares of the shipping company’s stock, valued at approximately $383,000.

Several other institutional investors have also recently made changes to their positions in TOO. Stockman Wealth Management Inc. bought a new position in shares of Teekay Offshore Partners in the 4th quarter valued at approximately $391,000. Virtu Financial LLC raised its stake in shares of Teekay Offshore Partners by 51.4% in the 4th quarter. Virtu Financial LLC now owns 114,872 shares of the shipping company’s stock valued at $271,000 after acquiring an additional 39,018 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Teekay Offshore Partners in the 3rd quarter valued at approximately $118,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Teekay Offshore Partners by 16.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 368,728 shares of the shipping company’s stock valued at $878,000 after acquiring an additional 51,385 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Teekay Offshore Partners by 7.2% in the 4th quarter. Millennium Management LLC now owns 866,002 shares of the shipping company’s stock valued at $2,044,000 after acquiring an additional 58,345 shares in the last quarter. Institutional investors and hedge funds own 77.87% of the company’s stock.

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Teekay Offshore Partners L.P. (NYSE:TOO) opened at $2.37 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.49 and a debt-to-equity ratio of 2.10. Teekay Offshore Partners L.P. has a one year low of $1.65 and a one year high of $5.72. The firm has a market capitalization of $1,000.51, a P/E ratio of 20.33, a P/E/G ratio of 2.62 and a beta of 2.58.

Teekay Offshore Partners (NYSE:TOO) last issued its quarterly earnings results on Thursday, February 22nd. The shipping company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.09). The business had revenue of $295.70 million during the quarter, compared to the consensus estimate of $279.56 million. Teekay Offshore Partners had a positive return on equity of 3.87% and a negative net margin of 28.37%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. research analysts predict that Teekay Offshore Partners L.P. will post 0.16 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on TOO. Zacks Investment Research raised Teekay Offshore Partners from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. ValuEngine downgraded Teekay Offshore Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Morgan Stanley raised Teekay Offshore Partners from an “underweight” rating to an “equal weight” rating and set a $3.00 price objective on the stock in a research note on Monday, February 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Teekay Offshore Partners has an average rating of “Hold” and a consensus target price of $3.19.

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About Teekay Offshore Partners

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 (NYSE:TOO)

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