Teekay Offshore Partners (TOO) Upgraded by TheStreet to C-

TheStreet upgraded shares of Teekay Offshore Partners (NYSE:TOO) from a d rating to a c- rating in a research note published on Monday.

Several other analysts have also issued reports on the company. ValuEngine raised Teekay Offshore Partners from a hold rating to a buy rating in a report on Tuesday, October 16th. Zacks Investment Research raised Teekay Offshore Partners from a hold rating to a buy rating and set a $2.25 price target for the company in a report on Wednesday, November 7th. Wells Fargo & Co lowered Teekay Offshore Partners from an outperform rating to a market perform rating in a report on Thursday, January 10th. Finally, Morgan Stanley lowered Teekay Offshore Partners from an equal weight rating to an underweight rating and cut their price target for the company from $2.75 to $1.00 in a report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock has a consensus rating of Hold and a consensus target price of $1.13.

Teekay Offshore Partners stock opened at $1.30 on Monday. The firm has a market cap of $553.56 million, a P/E ratio of 4.48 and a beta of 2.28. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.52 and a quick ratio of 0.52. Teekay Offshore Partners has a one year low of $1.10 and a one year high of $3.12.

Teekay Offshore Partners (NYSE:TOO) last posted its quarterly earnings data on Friday, February 8th. The shipping company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $405.81 million during the quarter, compared to analysts’ expectations of $384.50 million. Teekay Offshore Partners had a positive return on equity of 18.47% and a negative net margin of 8.25%. As a group, research analysts anticipate that Teekay Offshore Partners will post -0.17 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Raymond James & Associates grew its holdings in Teekay Offshore Partners by 39.5% during the fourth quarter. Raymond James & Associates now owns 62,239 shares of the shipping company’s stock valued at $75,000 after purchasing an additional 17,620 shares during the period. California Public Employees Retirement System grew its holdings in Teekay Offshore Partners by 31.3% during the second quarter. California Public Employees Retirement System now owns 95,986 shares of the shipping company’s stock valued at $253,000 after purchasing an additional 22,886 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Teekay Offshore Partners by 27.1% in the third quarter. GSA Capital Partners LLP now owns 177,128 shares of the shipping company’s stock worth $414,000 after acquiring an additional 37,734 shares during the period. Essex Financial Services Inc. bought a new position in shares of Teekay Offshore Partners in the fourth quarter worth about $61,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Teekay Offshore Partners by 16.3% in the second quarter. Renaissance Technologies LLC now owns 756,405 shares of the shipping company’s stock worth $1,997,000 after acquiring an additional 106,005 shares during the period. 75.87% of the stock is owned by institutional investors and hedge funds.

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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