Teekay Offshore Partners L.P. (NYSE:TOO) has earned an average rating of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $4.25.

TOO has been the topic of several research analyst reports. UBS AG set a $3.00 price target on shares of Teekay Offshore Partners L.P. and gave the stock a “buy” rating in a research note on Monday, August 7th. Citigroup Inc. upgraded shares of Teekay Offshore Partners L.P. from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered shares of Teekay Offshore Partners L.P. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Teekay Offshore Partners L.P. in a research note on Friday, July 28th. Finally, ValuEngine upgraded shares of Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a research note on Friday, September 1st.

Teekay Offshore Partners L.P. (NYSE:TOO) last announced its quarterly earnings results on Thursday, August 3rd. The shipping company reported $0.07 EPS for the quarter, topping 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 firm had revenue of $244.60 million for the quarter, compared to analyst estimates of $270.00 million. During the same period last year, the business earned $0.22 EPS. Teekay Offshore Partners L.P.’s revenue for the quarter was down 14.0% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, November 3rd will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.04 annualized dividend and a yield of 1.56%. Teekay Offshore Partners L.P.’s dividend payout ratio is currently 8.16%.

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its position in 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 worth $354,000 after purchasing an additional 12,966 shares during the last quarter. Stifel Financial Corp purchased a new position in Teekay Offshore Partners L.P. during the 1st quarter worth $113,000. FMR LLC grew its position in Teekay Offshore Partners L.P. by 2.1% during the 2nd quarter. FMR LLC now owns 14,751,410 shares of the shipping company’s stock worth $42,337,000 after purchasing an additional 302,413 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Teekay Offshore Partners L.P. by 686.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,251,429 shares of the shipping company’s stock worth $6,345,000 after purchasing an additional 1,092,370 shares during the last quarter. Finally, Brookfield Asset Management Inc. grew its position in Teekay Offshore Partners L.P. by 273.9% during the 2nd quarter. Brookfield Asset Management Inc. now owns 175,207 shares of the shipping company’s stock worth $503,000 after purchasing an additional 128,343 shares during the last quarter. 48.10% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Teekay Offshore Partners L.P. (NYSE:TOO)

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