Teekay Offshore Partners LP Stock as Institutional Investors Exit

November 14, 2017 - By Hazel Jackson

 Teekay Offshore Partners LP Stock  as Institutional Investors Exit

Sentiment for Teekay Offshore Partners LP (NYSE:TOO)

Teekay Offshore Partners LP (NYSE:TOO) institutional sentiment decreased to 0.69 in 2017 Q2. Its down -0.59, from 1.28 in 2017Q1. The ratio dropped, as 27 investment managers increased and opened new positions, while 39 reduced and sold stakes in Teekay Offshore Partners LP. The investment managers in our partner’s database reported: 74.27 million shares, down from 78.47 million shares in 2017Q1. Also, the number of investment managers holding Teekay Offshore Partners LP in their top 10 positions was flat from 0 to 0 for the same number . Sold All: 20 Reduced: 19 Increased: 20 New Position: 7.

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 has market cap of $992.31 million. The Firm operates shuttle tankers; towage vessels; floating, production, storage and off-loading 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. It has a 4.1 P/E ratio. The Company’s divisions include shuttle tanker segment, FPSO segment, FSO segment, conventional tanker segment, towage segment and UMS segment.

About 152,412 shares traded. Teekay Offshore Partners L.P. (NYSE:TOO) has declined 43.83% since November 14, 2016 and is downtrending. It has underperformed by 60.53% the S&P500.

Analysts expect Teekay Offshore Partners L.P. (NYSE:TOO) to report $0.19 EPS on February, 22.They anticipate $0.22 EPS change or 733.33 % from last quarter’s $-0.03 EPS. TOO’s profit would be $77.91 million giving it 3.18 P/E if the $0.19 EPS is correct. After having $0.02 EPS previously, Teekay Offshore Partners L.P.’s analysts see 850.00 % EPS growth.

Advisory Research Inc holds 1.37% of its portfolio in Teekay Offshore Partners L.P. for 18.38 million shares. Berson & Corrado Investment Advisors Llc owns 651,369 shares or 1.02% of their US portfolio. Moreover, Eagle Global Advisors Llc has 0.95% invested in the company for 11.59 million shares. The Illinois-based Magnetar Financial Llc has invested 0.71% in the stock. Dalton Investments Llc, a California-based fund reported 491,700 shares.#img1#

Teekay Offshore Partners L.P. (NYSE:TOO) Ratings Coverage

Ratings analysis reveals 56% of Teekay Offshore’s analysts are positive. Out of 9 Wall Street analysts rating Teekay Offshore, 5 give it “Buy”, 1 “Sell” rating, while 3 recommend “Hold”. The lowest target is $300 while the high is $23. The stock’s average target of $9 is 271.90% above today’s ($2.42) share price. TOO was included in 15 notes of analysts from August 4, 2015. As per Thursday, August 18, the company rating was upgraded by RBC Capital Markets. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) earned “Outperform” rating by Wells Fargo on Thursday, September 14. RBC Capital Markets maintained the stock with “Sector Perform” rating in Thursday, August 13 report. Morgan Stanley initiated it with “Equal-Weight” rating and $6 target in Tuesday, April 19 report. The rating was downgraded by Citigroup on Friday, August 7 to “Neutral”. Global Hunter Securities upgraded Teekay Offshore Partners L.P. (NYSE:TOO) rating on Tuesday, August 4. Global Hunter Securities has “Accumulate” rating and $23 target. Bank of America downgraded Teekay Offshore Partners L.P. (NYSE:TOO) on Thursday, December 17 to “Underperform” rating. On Monday, June 20 the stock rating was maintained by UBS with “Buy”. The company was upgraded on Wednesday, July 26 by Citigroup. The stock has “Neutral” rating by Seaport Global Securities on Thursday, December 17.

More recent Teekay Offshore Partners L.P. (NYSE:TOO) news were published by: Globenewswire.com which released: “Teekay Group Announces Third Quarter 2017 Earnings Results Conference Calls” on November 01, 2017. Also Seekingalpha.com published the news titled: “We Never Knew It Was This Bad At Teekay Offshore” on November 13, 2017. Seekingalpha.com‘s news article titled: “Teekay Offshore Partners’ (TOO) CEO Ingvild Sæther on Q3 2017 Results …” with publication date: November 09, 2017 was also an interesting one.

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