Price Don’t Lie: Is Buying Teekay Offshore Partners L.P. Here a Winning Strategy?

Price Don't Lie: Is Buying Teekay Offshore Partners L.P. Here a Winning Strategy?

The stock of Teekay Offshore Partners L.P. (NYSE:TOO) is a huge mover today! About 924,428 shares traded hands or 104.45% up from the average. Teekay Offshore Partners L.P. (NYSE:TOO) has declined 23.44% since April 27, 2016 and is downtrending. It has underperformed by 28.67% the S&P500.
The move comes after 8 months positive chart setup for the $759.11 million company. It was reported on Nov, 30 by Barchart.com. We have $5.95 PT which if reached, will make NYSE:TOO worth $60.73M more.

Analysts await Teekay Offshore Partners L.P. (NYSE:TOO) to report earnings on February, 16. They expect $0.40 earnings per share, down 21.57% or $0.11 from last year’s $0.51 per share. TOO’s profit will be $55.11M for 3.44 P/E if the $0.40 EPS becomes a reality. After $-0.02 actual earnings per share reported by Teekay Offshore Partners L.P. for the previous quarter, Wall Street now forecasts -2,100.00% 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 stock of Teekay Offshore Partners L.P. (NYSE:TOO) has “Sector Perform” rating given on Thursday, December 17 by RBC Capital Markets. Global Hunter Securities upgraded it to “Accumulate” rating and $23 target price in Tuesday, August 4 report. RBC Capital Markets upgraded Teekay Offshore Partners L.P. (NYSE:TOO) rating on Thursday, August 18. RBC Capital Markets has “Outperform” rating and $8 price target. The company was downgraded on Thursday, December 17 by Seaport Global Securities. The firm has “Neutral” rating by Citigroup given on Friday, August 7. The firm earned “Sector Perform” rating on Thursday, August 13 by RBC Capital Markets. The stock has “Equal-Weight” rating given by Morgan Stanley on Tuesday, April 19. UBS maintained the shares of TOO in a report on Monday, June 20 with “Buy” rating. Bank of America downgraded the stock to “Underperform” rating in Thursday, December 17 report.

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 2.19 in 2016 Q2. Its up 1.22, from 0.97 in 2016Q1. The ratio increased, 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.
Finemark Bancshares holds 0% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO) for 4,254 shares. The New York-based Citigroup has invested 0% in Teekay Offshore Partners L.P. (NYSE:TOO). Neuberger Berman Lc holds 440,440 shares or 0% of its portfolio. Bancorp Of America Corp De last reported 68,391 shares in the company. Ronna Sue Cohen owns 109,440 shares or 0.49% of their US portfolio. Commonwealth Of Pennsylvania School Empls Retrmt Sys holds 0.02% or 159,798 shares in its portfolio. Cohen Steers holds 425,821 shares or 0.01% of its portfolio. The Washington-based Washington Tru Natl Bank has invested 0% in Teekay Offshore Partners L.P. (NYSE:TOO). Tower Cap (Trc) has 1,170 shares for 0% of their US portfolio. Endurance Wealth Management has invested 0% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO). Reilly Advsr Limited Liability Com reported 250 shares or 0% of all its holdings. Moreover, California Public Employees Retirement Systems has 0% invested in Teekay Offshore Partners L.P. (NYSE:TOO) for 87,500 shares. Duncker Streett And Inc, a Missouri-based fund reported 145 shares. Murphy Capital Management Inc has 10,000 shares for 0.01% of their US portfolio. Raymond James Services Advsr holds 0.01% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO) for 180,622 shares.

More recent Teekay Offshore Partners L.P. (NYSE:TOO) news were published by: Fool.com which released: “Teekay Offshore Partners LP Soars After Shoring Up its Balance Sheet” on June 17, 2016. Also Fool.com published the news titled: “Why Teekay Offshore Partners L.P., Teekay LNG Partners L.P., and Teekay …” on April 06, 2016. Fool.com‘s news article titled: “Teekay Corporation, Teekay Offshore Partners L.P. Stocks Sink 10%: Here’s What …” with publication date: January 07, 2016 was also an interesting one.

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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