Luminus Management LLC increased its holdings in Teekay Offshore Partners L.P. (NYSE:TOO) by 58.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,969,207 shares of the shipping company’s stock after buying an additional 4,040,663 shares during the period. Luminus Management LLC owned 2.68% of Teekay Offshore Partners worth $25,888,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Stockman Wealth Management Inc. bought a new position in Teekay Offshore Partners in the 4th quarter worth approximately $391,000. Virtu Financial LLC boosted its holdings in Teekay Offshore Partners by 51.4% in the 4th quarter. Virtu Financial LLC now owns 114,872 shares of the shipping company’s stock worth $271,000 after buying an additional 39,018 shares during the period. GSA Capital Partners LLP bought a new position in Teekay Offshore Partners in the 3rd quarter worth approximately $118,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Teekay Offshore Partners by 16.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 368,728 shares of the shipping company’s stock worth $878,000 after buying an additional 51,385 shares during the period. Finally, Institutional & Family Asset Management LLC bought a new position in Teekay Offshore Partners in the 3rd quarter worth approximately $279,000. 78.03% of the stock is owned by institutional investors.
Shares of Teekay Offshore Partners L.P. (NYSE TOO) opened at $2.53 on Monday. Teekay Offshore Partners L.P. has a 52 week low of $1.65 and a 52 week high of $5.72. The company has a quick ratio of 0.54, a current ratio of 0.49 and a debt-to-equity ratio of 2.10. The stock has a market cap of $1,037.41, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.72 and a beta of 2.58.
Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Teekay Offshore Partners from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. ValuEngine cut shares of Teekay Offshore Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. UBS Group lowered their target price on shares of Teekay Offshore Partners from $3.00 to $2.75 and set a “buy” rating on the stock in a research note on Wednesday, November 15th. Finally, Morgan Stanley upgraded shares of Teekay Offshore Partners from an “underweight” rating to an “equal weight” rating and set a $3.00 target price on the stock in a research note on Monday, February 12th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Teekay Offshore Partners presently has a consensus rating of “Buy” and a consensus target price of $4.15.
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Teekay Offshore Partners 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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