Teekay Offshore Partners L.P. (TOO) Price Target Cut to $2.75
Teekay Offshore Partners L.P. (NYSE:TOO) had its target price lowered by analysts at UBS AG from $3.00 to $2.75 in a research note issued to investors on Wednesday, www.benzinga.com reports. The brokerage currently has a “buy” rating on the shipping company’s stock. UBS AG’s price target suggests a potential upside of 16.03% from the stock’s previous close.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Teekay Offshore Partners L.P. from a “hold” rating to a “strong sell” rating in a report on Wednesday. Wells Fargo & Company raised Teekay Offshore Partners L.P. from a “market perform” rating to an “outperform” rating and increased their price target for the company from $3.50 to $4.00 in a report on Thursday, September 14th. ValuEngine raised Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. Finally, Citigroup Inc. raised Teekay Offshore Partners L.P. from a “neutral” rating to a “buy” rating in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $3.95.
Teekay Offshore Partners L.P. (NYSE:TOO) traded up $0.02 during trading hours on Wednesday, hitting $2.37. The company had a trading volume of 458,782 shares, compared to its average volume of 1,006,700. Teekay Offshore Partners L.P. has a 12-month low of $1.65 and a 12-month high of $6.30. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $383.11, a PE ratio of 31.13, a PEG ratio of 1.34 and a beta of 2.83.
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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.
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