Teekay Offshore Partners (NYSE:TOO) Share Price Crosses Above Two Hundred Day Moving Average of $1.24

Shares of Teekay Offshore Partners L.P. (NYSE:TOO) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.24 and traded as high as $1.15. Teekay Offshore Partners shares last traded at $1.15, with a volume of 300 shares trading hands.

A number of research analysts have recently weighed in on TOO shares. Zacks Investment Research raised Teekay Offshore Partners from a “hold” rating to a “strong-buy” rating and set a $1.25 price objective on the stock in a report on Thursday, May 16th. ValuEngine lowered Teekay Offshore Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Finally, TheStreet lowered Teekay Offshore Partners from a “c-” rating to a “d+” rating in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $1.13.

The business has a fifty day moving average price of $1.21 and a two-hundred day moving average price of $1.24. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $475.97 million, a price-to-earnings ratio of 4.03 and a beta of 2.37.

Teekay Offshore Partners (NYSE:TOO) last posted its earnings results on Wednesday, July 31st. The shipping company reported ($0.01) EPS for the quarter. The company had revenue of $287.15 million for the quarter. Teekay Offshore Partners had a positive return on equity of 16.61% and a negative net margin of 0.21%.

A number of institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC grew its holdings in Teekay Offshore Partners by 44.3% during the second quarter. Cubist Systematic Strategies LLC now owns 43,397 shares of the shipping company’s stock worth $55,000 after acquiring an additional 13,328 shares during the period. Raymond James & Associates grew its holdings in Teekay Offshore Partners by 39.5% during the fourth quarter. Raymond James & Associates now owns 62,239 shares of the shipping company’s stock worth $75,000 after acquiring an additional 17,620 shares during the period. Cetera Advisors LLC acquired a new stake in Teekay Offshore Partners during the second quarter worth about $25,000. Acadian Asset Management LLC grew its holdings in Teekay Offshore Partners by 44.0% during the second quarter. Acadian Asset Management LLC now owns 162,139 shares of the shipping company’s stock worth $205,000 after acquiring an additional 49,526 shares during the period. Finally, Millennium Management LLC grew its holdings in Teekay Offshore Partners by 48.4% during the fourth quarter. Millennium Management LLC now owns 262,475 shares of the shipping company’s stock worth $318,000 after acquiring an additional 85,635 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

About Teekay Offshore Partners (NYSE:TOO)

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 Offshore Installation Vessels; and Conventional Tanker.

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