Teekay Offshore Partners L.P. (TOO) Receives $3.25 Consensus Target Price from Analysts

Shares of Teekay Offshore Partners L.P. (NYSE:TOO) have been assigned an average recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3.25.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Teekay Offshore Partners from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine lowered shares of Teekay Offshore Partners from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Morgan Stanley raised shares of Teekay Offshore Partners from an “underweight” rating to an “equal weight” rating and set a $3.00 target price on the stock in a report on Monday, February 12th.

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A number of institutional investors and hedge funds have recently bought and sold shares of TOO. GSA Capital Partners LLP bought a new stake in Teekay Offshore Partners during the 3rd quarter worth approximately $118,000. Virtu Financial LLC grew its holdings in Teekay Offshore Partners by 51.4% during the 4th quarter. Virtu Financial LLC now owns 114,872 shares of the shipping company’s stock worth $271,000 after acquiring an additional 39,018 shares during the last quarter. Institutional & Family Asset Management LLC bought a new stake in Teekay Offshore Partners during the 3rd quarter worth approximately $279,000. Pin Oak Investment Advisors Inc. bought a new stake in Teekay Offshore Partners during the 4th quarter worth approximately $383,000. Finally, Stockman Wealth Management Inc. bought a new stake in Teekay Offshore Partners during the 4th quarter worth approximately $391,000. 77.87% of the stock is currently owned by hedge funds and other institutional investors.

TOO stock traded up $0.05 during trading on Friday, reaching $2.45. 327,827 shares of the company were exchanged, compared to its average volume of 379,810. The stock has a market cap of $1,004.61, a price-to-earnings ratio of 245.00, a P/E/G ratio of 2.63 and a beta of 2.55. Teekay Offshore Partners has a twelve month low of $1.65 and a twelve month high of $5.72. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.49 and a quick ratio of 0.49.

Teekay Offshore Partners (NYSE:TOO) last released its quarterly earnings data on Thursday, February 22nd. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.09). The company had revenue of $295.70 million for the quarter, compared to analyst estimates of $279.56 million. Teekay Offshore Partners had a positive return on equity of 3.87% and a negative net margin of 28.37%. Teekay Offshore Partners’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 earnings per share. equities research analysts anticipate that Teekay Offshore Partners will post 0.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Friday, May 4th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, May 3rd. Teekay Offshore Partners’s payout ratio is 400.00%.

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About Teekay Offshore Partners

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage; and Conventional Tanker.

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