Teekay Offshore Partners L.P. (TOO) Could Help Your Portfolio. The Stock Formed Descending Triangle Pattern

December 8, 2017 - By Richard Conner

Investors sentiment decreased to 0.69 in Q2 2017. Its down 0.59, from 1.28 in 2017Q1. It turned negative, as 20 investors sold Teekay Offshore Partners L.P. shares while 19 reduced holdings. 7 funds opened positions while 20 raised stakes. 74.27 million shares or 5.35% less from 78.47 million shares in 2017Q1 were reported.
489,735 are held by Neuberger Berman Group Inc Lc. Credit Suisse Ag holds 20,166 shares or 0% of its portfolio. Commonwealth Equity holds 0% or 10,075 shares. X Mngmt Communication Ltd stated it has 0% in Teekay Offshore Partners L.P. (NYSE:TOO). Benchmark Cap Advisors has 0.19% invested in Teekay Offshore Partners L.P. (NYSE:TOO). Advisory Research holds 1.37% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO) for 18.38 million shares. Barclays Public Limited Liability Company holds 30,641 shares. Guggenheim Ltd Liability Com reported 0.01% stake. Berson & Corrado Invest Advsrs Ltd Limited Liability Company reported 1.02% stake. Exane Derivatives reported 12 shares or 0% of all its holdings. Bank & Trust Of Montreal Can accumulated 1,600 shares. Homrich And Berg owns 26,800 shares or 0.01% of their US portfolio. Stratos Wealth Limited reported 11,078 shares. Deutsche Bancorp Ag invested 0% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO). Benjamin F Edwards And Com stated it has 3,609 shares or 0% of all its holdings.

The stock of Teekay Offshore Partners L.P. (TOO) formed a descending triangle with $2.34 target or 5.00 % above today’s $2.23 share price. The 7 months triangle pattern indicates low risk for the $938.93M company. If the $2.34 price target is reached, the company will be worth $46.95M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.90% or $0.02 during the last trading session, reaching $2.23. About 653,064 shares traded. Teekay Offshore Partners L.P. (NYSE:TOO) has declined 43.83% since December 8, 2016 and is downtrending. It has underperformed by 60.53% the S&P500.

Analysts await Teekay Offshore Partners L.P. (NYSE:TOO) to report earnings on February, 22. They expect $0.19 EPS, up 733.33 % or $0.22 from last year’s $-0.03 per share. TOO’s profit will be $80.00M for 2.93 P/E if the $0.19 EPS becomes a reality. After $0.02 actual EPS reported by Teekay Offshore Partners L.P. for the previous quarter, Wall Street now forecasts 850.00 % EPS growth.

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

Among 9 analysts covering Teekay Offshore (NYSE:TOO), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. Teekay Offshore had 16 analyst reports since August 4, 2015 according to SRatingsIntel. The firm has “Equal-Weight” rating given on Tuesday, April 19 by Morgan Stanley. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) earned “Sector Perform” rating by RBC Capital Markets on Thursday, December 17. As per Tuesday, August 4, the company rating was upgraded by Global Hunter Securities. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) earned “Buy” rating by Citigroup on Wednesday, July 26. The firm has “Sector Perform” rating given on Thursday, August 13 by RBC Capital Markets. On Friday, August 7 the stock rating was downgraded by Citigroup to “Neutral”. On Thursday, August 18 the stock rating was upgraded by RBC Capital Markets to “Outperform”. The firm has “Market Perform” rating given on Friday, July 28 by Raymond James. UBS maintained Teekay Offshore Partners L.P. (NYSE:TOO) rating on Wednesday, November 15. UBS has “Buy” rating and $2.75 target. The firm has “Underperform” rating given on Thursday, December 17 by Bank of America.

More notable recent Teekay Offshore Partners L.P. (NYSE:TOO) news were published by: Streetinsider.com which released: “Teekay Offshore Partners LP (TOO) PT Lowered to $2.75 at UBS” on November 15, 2017, also Nasdaq.com with their article: “Teekay Offshore Partners Places Order for Two Additional Shuttle Tankers” published on November 28, 2017, Globenewswire.com published: “Teekay Offshore Partners Reports Third Quarter 2017 Results” on November 09, 2017. More interesting news about Teekay Offshore Partners L.P. (NYSE:TOO) were released by: Seekingalpha.com and their article: “We Never Knew It Was This Bad At Teekay Offshore” published on November 13, 2017 as well as Seekingalpha.com‘s news article titled: “Teekay Offshore Partners: Be Prepared For Volatility” with publication date: July 08, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.