The stock of Teekay Offshore Partners L.P. (NYSE:TOO) is a huge mover today! About 808,784 shares traded hands. Teekay Offshore Partners L.P. (NYSE:TOO) has risen 60.51% since March 2, 2016 and is uptrending. It has outperformed by 52.25% the S&P500.
The move comes after 9 months positive chart setup for the $901.26M company. It was reported on Oct, 5 by Barchart.com. We have $10.03 PT which if reached, will make NYSE:TOO worth $468.66M more.
Analysts await Teekay Offshore Partners L.P. (NYSE:TOO) to report earnings on November, 3. They expect $0.23 earnings per share, up 76.92% or $0.10 from last year’s $0.13 per share. TOO’s profit will be $31.41M for 7.17 P/E if the $0.23 EPS becomes a reality. After $0.22 actual earnings per share reported by Teekay Offshore Partners L.P. for the previous quarter, Wall Street now forecasts 4.55% EPS growth.
Teekay Offshore Partners L.P. (NYSE:TOO) Ratings Coverage
Out of 6 analysts covering Teekay Offshore (NYSE:TOO), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. Teekay Offshore has been the topic of 11 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was downgraded by Bank of America on Thursday, December 17 to “Underperform”. The company was initiated on Tuesday, April 19 by Morgan Stanley. The company was upgraded on Thursday, August 18 by RBC Capital Markets. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, August 13. Citigroup downgraded the shares of TOO in a report on Friday, August 7 to “Neutral” rating. RBC Capital Markets maintained Teekay Offshore Partners L.P. (NYSE:TOO) rating on Thursday, December 17. RBC Capital Markets has “Sector Perform” rating and $11 price target. On Tuesday, August 4 the stock rating was upgraded by Global Hunter Securities to “Accumulate”. UBS maintained it with “Buy” rating and $7 target price in Monday, June 20 report. The rating was downgraded by Seaport Global Securities to “Neutral” on Thursday, December 17.
According to Zacks Investment Research, “TEEKAY OFFSHORE PARTNERS L.P. is a publicly-traded master limited partnership formed by Teekay and is an international provider of marine transportation and storage services to the offshore oil industry. Teekay Offshore currently owns a twenty six percent interest in and controls OPCO with a fleet of thirty four shuttle tankers (nine of which are chartered-in), four floating storage and offtake units and nine conventional crude oil Aframax tankers. The Partnership also has direct ownership interests in two shuttle tankers and one FSO.”
Insitutional Activity: The institutional sentiment increased to 0.97 in Q2 2016. Its up 0.07, from 0.9 in 2016Q1. The ratio is positive, as 14 funds sold all Teekay Offshore Partners L.P. shares owned while 24 reduced positions. 12 funds bought stakes while 25 increased positions. They now own 65.29 million shares or 29.53% more from 50.41 million shares in 2016Q1.
Parkside Comml Bank And Tru last reported 0.2% of its portfolio in the stock. Benchmark Capital Advsrs reported 59,500 shares or 0.29% of all its holdings. Cambridge Inv Advsr has 0% invested in the company for 10,919 shares. Obermeyer Wood Inv Counsel Lllp accumulated 10,964 shares or 0.01% of the stock. Salient Cap Advsr Limited Liability Corp has invested 0.5% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO). Goldman Sachs Group accumulated 0% or 16,370 shares. The New York-based Millennium Management Ltd Co has invested 0.01% in Teekay Offshore Partners L.P. (NYSE:TOO). Moreover, Ladenburg Thalmann has 0% invested in Teekay Offshore Partners L.P. (NYSE:TOO) for 538 shares. Prudential Public Limited Com last reported 0% of its portfolio in the stock. Eagle Glob Advsr Ltd Com holds 5.49 million shares or 0.96% of its portfolio. Moreover, Magnetar Financial Ltd Com has 1.72% invested in Teekay Offshore Partners L.P. (NYSE:TOO) for 15.56 million shares. Luminus Mngmt Ltd Liability Corporation holds 0.08% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO) for 460,048 shares. Renaissance Technologies Lc owns 114,800 shares or 0% of their US portfolio. Deere & Co holds 63,334 shares or 0.02% of its portfolio. Geduld E E, a New York-based fund reported 99,000 shares.
More important recent Teekay Offshore Partners L.P. (NYSE:TOO) news were published by: Fool.com which released: “Why Teekay Offshore Partners L.P., Teekay LNG Partners L.P., and Teekay …” on April 06, 2016, also Fool.com published article titled: “Teekay Corporation, Teekay Offshore Partners L.P. Stocks Sink 10%: Here’s What …”, Seekingalpha.com published: “Teekay Offshore Partners L.P. – A Midstream Operator Mistakenly Punished By …” on February 08, 2016. More interesting news about Teekay Offshore Partners L.P. (NYSE:TOO) was released by: Seekingalpha.com and their article: “Consider Teekay Offshore Partners’ Preferreds For Dividend Investors” with publication date: September 28, 2016.
TOO Company Profile
Teekay Offshore Partners L.P., incorporated on August 30, 2006, is a well-known provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry focusing on the deep-water offshore oil regions of the North Sea, Brazil and the East Coast of Canada. The Firm 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. The Company’s divisions include shuttle tanker segment, FPSO segment, FSO segment, conventional tanker segment, towage segment and UMS segment. The Company’s fleet consists of approximately 30 shuttle tankers, including over three chartered-in vessels and approximately one HiLoad Dynamic Positioning (DP) unit, over six FPSO units, approximately seven FSO units, over six long-distance towing and offshore installation vessels, a UMS and over two conventional oil tankers.
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