What’s Teekay Offshore Partners L.P. (TOO) Upside After Today’s Significant Increase?

February 22, 2018 - By Henry Gaston

Investors sentiment increased to 0.9 in Q3 2017. Its up 0.21, from 0.69 in 2017Q2. It is positive, as 9 investors sold Teekay Offshore Partners L.P. shares while 21 reduced holdings. 14 funds opened positions while 13 raised stakes. 71.14 million shares or 4.21% less from 74.27 million shares in 2017Q2 were reported.
Gsa Prtn Limited Liability Partnership reported 49,516 shares. Pinnacle Holding Lc holds 0.01% or 9,457 shares. Magnetar Fincl Limited Liability Company holds 13.91 million shares. National Bank Of Montreal Can stated it has 0% in Teekay Offshore Partners L.P. (NYSE:TOO). Park West Asset Mgmt Limited Liability Co stated it has 0.34% in Teekay Offshore Partners L.P. (NYSE:TOO). Virtu Ltd Liability holds 75,854 shares or 0% of its portfolio. Enterprise Fincl Service Corp owns 1,200 shares for 0% of their portfolio. Stratos Wealth Prtn Ltd has 11,850 shares for 0% of their portfolio. Endurance Wealth Management accumulated 9,100 shares. Berson And Corrado Invest Advisors Ltd Liability Corp invested 0.8% in Teekay Offshore Partners L.P. (NYSE:TOO). Raymond James Associates invested in 76,052 shares or 0% of the stock. 98,000 are held by Ballentine Partners Llc. Missouri-based Benjamin F Edwards And Co Inc has invested 0% in Teekay Offshore Partners L.P. (NYSE:TOO). Obermeyer Wood Invest Counsel Lllp reported 10,964 shares. The Massachusetts-based Hite Hedge Asset Management Ltd Liability has invested 0.78% in Teekay Offshore Partners L.P. (NYSE:TOO).

The stock of Teekay Offshore Partners L.P. (NYSE:TOO) is a huge mover today! The stock increased 4.12% or $0.1 during the last trading session, reaching $2.53. About 766,591 shares traded. Teekay Offshore Partners L.P. (NYSE:TOO) has declined 43.83% since February 22, 2017 and is downtrending. It has underperformed by 60.53% the S&P500.
The move comes after 8 months positive chart setup for the $1.07 billion company. It was reported on Feb, 22 by Barchart.com. We have $2.71 PT which if reached, will make NYSE:TOO worth $74.55 million more.

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 17 analyst reports since August 4, 2015 according to SRatingsIntel. RBC Capital Markets maintained it with “Sector Perform” rating and $11 target in Thursday, December 17 report. On Friday, August 7 the stock rating was downgraded by Citigroup to “Neutral”. On Friday, July 28 the stock rating was downgraded by Raymond James to “Market Perform”. The stock has “Buy” rating by Citigroup on Wednesday, July 26. The firm earned “Sector Perform” rating on Thursday, August 13 by RBC Capital Markets. UBS maintained Teekay Offshore Partners L.P. (NYSE:TOO) rating on Wednesday, November 15. UBS has “Buy” rating and $2.75 target. Morgan Stanley initiated it with “Equal-Weight” rating and $6 target in Tuesday, April 19 report. The firm has “Neutral” rating given on Thursday, December 17 by Seaport Global Securities. The rating was upgraded by Wells Fargo on Thursday, September 14 to “Outperform”. The stock has “Accumulate” rating by Global Hunter Securities on Tuesday, August 4.

More notable recent Teekay Offshore Partners L.P. (NYSE:TOO) news were published by: Globenewswire.com which released: “Teekay Group Announces Fourth Quarter and Fiscal Year 2017 Earnings Results …” on February 14, 2018, also Seekingalpha.com with their article: “Teekay Offshore Partners: These 8.875% Fixed-To-Floating Preferred Units …” published on January 29, 2018, Nasdaq.com published: “Ex-Div Reminder for Teekay Offshore Partners LP’s 7.25% Series A Cumulative …” on February 06, 2018. More interesting news about Teekay Offshore Partners L.P. (NYSE:TOO) were released by: Seekingalpha.com and their article: “Teekay Offshore Rides Preferred Wave” published on January 23, 2018 as well as Seekingalpha.com‘s news article titled: “8.93% From This Offshore Player’s Preferreds” with publication date: January 26, 2018.

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing, offshore installation and maintenance, and safety services to the energy and oil service companies in the North Sea, Brazil, and the East Coast of Canada. The company has market cap of $1.07 billion. The firm operates through six divisions: Floating Production, Storage and Offloading ; Shuttle Tanker; Floating Storage and Off-Take (FSO); Units for Maintenance and Safety (UMS); Towage; and Conventional Tanker. It currently has negative earnings. As of December 31, 2016, its fleet consisted of 31 shuttle tankers, 6 FPSO units, 7 FSO units, 7 long-distance towing and offshore installation vessels, 1 UMS, and 2 chartered-in conventional oil tankers.

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