Teekay Offshore Partners L.P. (TOO) Stake Lessened by Credit Suisse AG

Credit Suisse AG lessened its stake in Teekay Offshore Partners L.P. (NYSE:TOO) by 48.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,576 shares of the shipping company’s stock after selling 29,584 shares during the quarter. Credit Suisse AG’s holdings in Teekay Offshore Partners L.P. were worth $160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Global X Management Co. LLC raised its position in shares of Teekay Offshore Partners L.P. by 3.9% in the 1st quarter. Global X Management Co. LLC now owns 40,054 shares of the shipping company’s stock worth $203,000 after purchasing an additional 1,487 shares during the last quarter. Bank of America Corp DE raised its position in shares of Teekay Offshore Partners L.P. by 22.8% in 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 shares of Teekay Offshore Partners L.P. in the 1st quarter worth about $113,000. Brookfield Asset Management Inc. purchased a new position in shares of Teekay Offshore Partners L.P. in the 1st quarter worth about $238,000. Finally, Arrow Investment Advisors LLC raised its position in shares of Teekay Offshore Partners L.P. by 34.9% in the 1st quarter. Arrow Investment Advisors LLC now owns 181,669 shares of the shipping company’s stock worth $921,000 after purchasing an additional 47,004 shares during the last quarter. 48.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Teekay Offshore Partners L.P. (NYSE:TOO) traded up 1.24% during trading on Friday, reaching $2.44. The company’s stock had a trading volume of 507,343 shares. The firm’s 50-day moving average is $2.46 and its 200-day moving average is $3.70. Teekay Offshore Partners L.P. has a 12-month low of $1.65 and a 12-month high of $6.69. The stock has a market capitalization of $375.41 million, a PE ratio of 4.26 and a beta of 2.73.

Teekay Offshore Partners L.P. (NYSE:TOO) last issued its quarterly earnings data on Thursday, August 3rd. The shipping company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. Teekay Offshore Partners L.P. had a return on equity of 5.24% and a net margin of 11.51%. The company had revenue of $244.60 million for the quarter, compared to the consensus estimate of $270 million. During the same quarter last year, the company earned $0.22 earnings per share. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. Equities analysts expect that Teekay Offshore Partners L.P. will post $0.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Monday, August 7th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, August 3rd. Teekay Offshore Partners L.P.’s dividend payout ratio (DPR) is presently 8.16%.

TOO has been the subject of several recent analyst reports. ValuEngine lowered Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Morgan Stanley lowered Teekay Offshore Partners L.P. from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $5.50 to $2.00 in a research report on Friday, June 9th. Zacks Investment Research raised Teekay Offshore Partners L.P. from a “hold” rating to a “strong-buy” rating and set a $2.25 price target for the company in a research report on Saturday, June 24th. Citigroup Inc. raised Teekay Offshore Partners L.P. from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, UBS AG lowered Teekay Offshore Partners L.P. from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Teekay Offshore Partners L.P. presently has an average rating of “Hold” and an average target price of $3.94.

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About Teekay Offshore Partners L.P.

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.

Institutional Ownership by Quarter for Teekay Offshore Partners L.P. (NYSE:TOO)

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