Teekay Offshore Partners L.P. (TOO) Shares Bought by Fmr LLC

FMR LLC lifted its holdings in Teekay Offshore Partners L.P. (NYSE:TOO) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,751,410 shares of the shipping company’s stock after purchasing an additional 302,413 shares during the quarter. FMR LLC owned 9.85% of Teekay Offshore Partners L.P. worth $42,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Brookfield Asset Management Inc. purchased a new stake in Teekay Offshore Partners L.P. during the first quarter valued at $238,000. Bank of America Corp DE increased its position in Teekay Offshore Partners L.P. by 22.8% during the first quarter. Bank of America Corp DE now owns 69,765 shares of the shipping company’s stock valued at $354,000 after acquiring an additional 12,966 shares during the last quarter. Stifel Financial Corp purchased a new stake in Teekay Offshore Partners L.P. during the first quarter valued at $113,000. Goldman Sachs Group Inc. increased its position in Teekay Offshore Partners L.P. by 686.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,251,429 shares of the shipping company’s stock valued at $6,345,000 after acquiring an additional 1,092,370 shares during the last quarter. Finally, Berson & Corrado Investment Advisors LLC increased its position in Teekay Offshore Partners L.P. by 0.6% during the second quarter. Berson & Corrado Investment Advisors LLC now owns 651,369 shares of the shipping company’s stock valued at $1,869,000 after acquiring an additional 3,944 shares during the last quarter. Hedge funds and other institutional investors own 48.29% of the company’s stock.



A number of analysts recently commented on TOO shares. UBS AG set a $3.00 price objective on Teekay Offshore Partners L.P. and gave the company a “buy” rating in a research report on Monday, August 7th. Citigroup Inc. raised Teekay Offshore Partners L.P. from a “neutral” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Thursday, July 13th. ValuEngine raised Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $4.00.

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Shares of Teekay Offshore Partners L.P. (TOO) opened at 2.63 on Friday. The stock has a 50 day moving average price of $2.54 and a 200 day moving average price of $3.09. The stock has a market capitalization of $404.65 million, a P/E ratio of 4.59 and a beta of 2.76. Teekay Offshore Partners L.P. has a one year low of $1.65 and a one year high of $6.49.

Teekay Offshore Partners L.P. (NYSE:TOO) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. The business had revenue of $244.60 million for the quarter, compared to analyst estimates of $270.00 million. Teekay Offshore Partners L.P. had a return on equity of 5.24% and a net margin of 11.51%. The company’s revenue was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. Equities analysts forecast that Teekay Offshore Partners L.P. will post $0.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, November 3rd will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.52%. Teekay Offshore Partners L.P.’s payout ratio is currently 8.16%.

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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