Teekay Offshore Partners L.P. (NYSE:TOO) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 5,349,502 shares, an increase of 81.8% from the June 15th total of 2,942,418 shares. Based on an average daily volume of 2,166,294 shares, the short-interest ratio is presently 2.5 days. Approximately 4.9% of the shares of the company are short sold.

Shares of Teekay Offshore Partners L.P. (NYSE TOO) opened at 2.54 on Wednesday. Teekay Offshore Partners L.P. has a 52-week low of $1.65 and a 52-week high of $6.69. The company’s market capitalization is $380.28 million. The stock has a 50 day moving average price of $2.61 and a 200 day moving average price of $4.55.

Teekay Offshore Partners L.P. (NYSE:TOO) last posted its earnings results on Thursday, May 18th. The shipping company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.22. The business had revenue of $276.10 million for the quarter, compared to analyst estimates of $249.09 million. Teekay Offshore Partners L.P. had a return on equity of 7.07% and a net margin of 4.98%. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. On average, analysts predict that Teekay Offshore Partners L.P. will post $0.50 earnings per share for the current fiscal year.

Several equities analysts have commented on the company. Zacks Investment Research upgraded Teekay Offshore Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 10th. ValuEngine cut Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Morgan Stanley cut Teekay Offshore Partners L.P. from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $5.50 to $2.00 in a research report on Friday, June 9th. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Teekay Offshore Partners L.P. has an average rating of “Hold” and a consensus target price of $3.25.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ronna Sue Cohen raised its position in shares of Teekay Offshore Partners L.P. by 0.7% in the first quarter. Ronna Sue Cohen now owns 101,454 shares of the shipping company’s stock worth $514,000 after buying an additional 686 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Teekay Offshore Partners L.P. by 3.9% in the first quarter. Global X Management Co. LLC now owns 40,054 shares of the shipping company’s stock worth $203,000 after buying an additional 1,487 shares in the last quarter. Berson & Corrado Investment Advisors LLC raised its position in shares of Teekay Offshore Partners L.P. by 0.6% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 651,369 shares of the shipping company’s stock worth $1,869,000 after buying an additional 3,944 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Teekay Offshore Partners L.P. by 7.3% in the first quarter. Parkside Financial Bank & Trust now owns 77,110 shares of the shipping company’s stock worth $391,000 after buying an additional 5,275 shares in the last quarter. Finally, Creative Planning raised its position in shares of Teekay Offshore Partners L.P. by 20.7% in the second quarter. Creative Planning now owns 36,188 shares of the shipping company’s stock worth $104,000 after buying an additional 6,215 shares in the last quarter. 53.57% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Teekay Offshore Partners L.P. (NYSE:TOO) Short Interest Update” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/19/teekay-offshore-partners-l-p-nysetoo-short-interest-update.html.

Teekay Offshore Partners L.P. Company Profile

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.

Receive News & Ratings for Teekay Offshore Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Offshore Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.