Equities research analysts expect that Teekay Offshore Partners L.P. (NYSE:TOO) will announce $383.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Teekay Offshore Partners’ earnings, with the highest sales estimate coming in at $384.50 million and the lowest estimate coming in at $382.20 million. Teekay Offshore Partners posted sales of $266.72 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 43.7%. The company is scheduled to issue its next earnings results on Thursday, February 28th.
On average, analysts expect that Teekay Offshore Partners will report full-year sales of $1.24 billion for the current year, with estimates ranging from $1.23 billion to $1.24 billion. For the next year, analysts anticipate that the business will post sales of $1.11 billion, with estimates ranging from $1.00 billion to $1.22 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Teekay Offshore Partners.
TOO has been the topic of several analyst reports. Zacks Investment Research raised Teekay Offshore Partners from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Wednesday, November 7th. ValuEngine raised Teekay Offshore Partners from a “sell” rating to a “hold” rating in a research note on Wednesday.
Shares of NYSE TOO opened at $1.70 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.57. Teekay Offshore Partners has a 1-year low of $1.62 and a 1-year high of $3.12. The company has a market cap of $705.28 million, a price-to-earnings ratio of 170.00 and a beta of 2.38.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Friday, November 2nd were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, November 1st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.35%. Teekay Offshore Partners’s dividend payout ratio is 400.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP bought a new position in shares of Teekay Offshore Partners during the second quarter valued at approximately $148,000. Natixis grew its stake in shares of Teekay Offshore Partners by 40.0% during the second quarter. Natixis now owns 70,000 shares of the shipping company’s stock valued at $185,000 after buying an additional 20,000 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Teekay Offshore Partners by 31.3% during the second quarter. California Public Employees Retirement System now owns 95,986 shares of the shipping company’s stock valued at $253,000 after buying an additional 22,886 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Teekay Offshore Partners by 159.7% during the second quarter. GSA Capital Partners LLP now owns 139,394 shares of the shipping company’s stock valued at $368,000 after buying an additional 85,711 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Teekay Offshore Partners by 44.8% during the third quarter. JPMorgan Chase & Co. now owns 647,608 shares of the shipping company’s stock valued at $1,515,000 after buying an additional 200,315 shares during the last quarter. 76.64% of the stock is currently owned by hedge funds and other institutional investors.
About Teekay Offshore Partners
Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage; and Conventional Tanker.
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