Teekay Offshore Part Downgraded to “Sector Perform” at RBC Capital (TOO)
Teekay Offshore Part (NYSE:TOO) was downgraded by equities research analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $35.00 price target on the stock, down from their previous price target of $36.00. RBC Capital’s price target points to a potential upside of 8.33% from the stock’s previous close.
Shares of Teekay Offshore Part (NYSE:TOO) traded down 0.28% on Tuesday, hitting $32.31. The stock had a trading volume of 83,336 shares. Teekay Offshore Part has a 52-week low of $26.71 and a 52-week high of $36.09. The stock’s 50-day moving average is $31.80 and its 200-day moving average is $32.66. The company has a market cap of $2.704 billion and a P/E ratio of 37.54.
Teekay Offshore Part (NYSE:TOO) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.31 by $0.22. On average, analysts predict that Teekay Offshore Part will post $0.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of 0.5384 per share. This represents a $2.15 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend is Wednesday, January 29th.
A number of other analysts have also recently weighed in on TOO. Analysts at Global Hunter Securities downgraded shares of Teekay Offshore Part from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 6th. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Teekay Offshore Part from a “neutral” rating to an “overweight” rating in a research note to investors on Monday, December 23rd. Finally, analysts at Raymond James raised their price target on shares of Teekay Offshore Part from $33.00 to $36.00 in a research note to investors on Monday, November 11th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Teekay Offshore Part currently has a consensus rating of “Hold” and an average target price of $33.88.
Teekay Offshore Partners L.P. (NYSE:TOO) is an international provider of marine transportation and storage services to the offshore oil industry.
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