Teekay Offshore Partners LP (TOO) Receives Average Rating of "Hold" from Brokerages

Cornelia Mascio
Marzo 30, 2017

Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The Mean and Low price Targets are $7.13 and $5.5, respectively.

Several other research firms have also recently weighed in on TGP. The parent company contributed $1.7652 per share to Teekay LNG Partners L.P. (NYSE:TGP)'s basic EPS for the quarter ended 2016-09-30. Zacks Investment Research cut Teekay Offshore Partners L.P. from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 2nd. Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services under long-term, fixed-rate contracts with major energy and utility companies through its fleet of seven LNG carriers and five Suezmax class crude oil tankers. The stock opened for trading at $16.45 and hit $18.2 on the upside, eventually ending the session at $17.35, with a gain of 5.47% or 0.9 points. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.21 and a beta of 1.15.

Currently, the company has SMA200 (200-day simple moving average) of -7.96 Percent.

Recently analysts working for various investment brokerages have changed their ratings and price targets on shares of Teekay Offshore Partners L.P. (NYSE:TOO). This showed the surprise of -58.3% in the last quarter earnings. During the same quarter previous year, the firm posted $0.62 earnings per share. The business earned $274.92 million during the quarter, compared to analysts' expectations of $275.56 million.

12/17/2015 - Teekay Offshore Partners L.P. was downgraded to "underperform" by analysts at Bank of America Merrill Lynch.

The company's growth for the past 5 years has been at -18.77 percent. During the same period in the prior year, the firm posted $0.62 EPS.

For the ongoing Fiscal Quarter, 1 analysts have an average earnings forecast of $-0.03 per share.

Teekay Offshore Partners LP Gross Margin percentage stands at 54.8% while its Operating Margin for trailing twelve month is 20 percent and Profit margin (ttm) is -2.6 Percent. JPMorgan Chase & Co. now owns 1,315,233 shares of the company's stock valued at $8,312,000 after buying an additional 1,315,218 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new stake in Teekay LNG Partners L.P. during the fourth quarter valued at about $139,000.

12/17/2015 - Teekay Offshore Partners L.P. was downgraded to "neutral" by analysts at Seaport Global Securities. Ronna Sue Cohen now owns 110,961 shares of the company's stock valued at $701,000 after buying an additional 1,521 shares during the last quarter.

04/19/2016 - Teekay Offshore Partners L.P. had its "equal-weight" rating reiterated by analysts at Morgan Stanley. Wells Fargo & Company MN now owns 269,716 shares of the company's stock valued at $1,704,000 after buying an additional 147,926 shares during the last quarter.

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