Fmr LLC Grows Holdings in Teekay Offshore Partners L.P. (TOO)

Fmr LLC raised its stake in shares of Teekay Offshore Partners L.P. (NYSE:TOO) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,751,410 shares of the shipping company’s stock after purchasing an additional 302,413 shares during the period. Fmr LLC owned 9.85% of Teekay Offshore Partners L.P. worth $42,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TOO. Stifel Financial Corp bought a new position in shares of Teekay Offshore Partners L.P. during the 1st quarter valued at about $113,000. Global X Management Co. LLC boosted its holdings in shares of Teekay Offshore Partners L.P. by 3.9% during the 1st quarter. Global X Management Co. LLC now owns 40,054 shares of the shipping company’s stock valued at $203,000 after purchasing an additional 1,487 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Teekay Offshore Partners L.P. by 51.0% during the 1st quarter. Morgan Stanley now owns 833,071 shares of the shipping company’s stock valued at $4,224,000 after purchasing an additional 281,296 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Teekay Offshore Partners L.P. by 22.8% during the 1st quarter. Bank of America Corp DE now owns 69,765 shares of the shipping company’s stock valued at $354,000 after purchasing an additional 12,966 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Teekay Offshore Partners L.P. during the 1st quarter valued at about $347,000. 48.32% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Fmr LLC Grows Holdings in Teekay Offshore Partners L.P. (TOO)” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://www.com-unik.info/2017/10/18/fmr-llc-grows-holdings-in-teekay-offshore-partners-l-p-too.html.

Several research firms have commented on TOO. Zacks Investment Research raised shares of Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Wells Fargo & Company raised shares of Teekay Offshore Partners L.P. from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $3.50 to $4.00 in a report on Thursday, September 14th. ValuEngine raised shares of Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a report on Friday, September 1st. UBS AG set a $3.00 price objective on shares of Teekay Offshore Partners L.P. and gave the company a “buy” rating in a report on Monday, August 7th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $3.95.

Shares of Teekay Offshore Partners L.P. (TOO) opened at 2.66 on Wednesday. The stock’s 50 day moving average is $2.47 and its 200 day moving average is $3.22. Teekay Offshore Partners L.P. has a 12 month low of $1.65 and a 12 month high of $6.58. The stock has a market capitalization of $409.26 million, a PE ratio of 4.64 and a beta of 2.76.

Teekay Offshore Partners L.P. (NYSE:TOO) last announced its earnings results on Thursday, August 3rd. The shipping company reported $0.07 earnings per share (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 analyst estimates of $270.00 million. During the same quarter last year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was down 14.0% compared to the same quarter last year. Analysts anticipate that Teekay Offshore Partners L.P. will post $0.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, November 3rd will be given a $0.01 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.04 annualized dividend and a dividend yield of 1.50%. 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.

Institutional Ownership by Quarter for Teekay Offshore Partners L.P. (NYSE:TOO)

What are top analysts saying about Teekay Offshore Partners L.P.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Teekay Offshore Partners L.P. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit