Hsbc Holdings PLC Takes Position in Teekay Offshore Partners L.P. (NYSE:TOO)

Hsbc Holdings PLC acquired a new stake in Teekay Offshore Partners L.P. (NYSE:TOO) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 64,770 shares of the shipping company’s stock, valued at approximately $78,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Raymond James & Associates raised its holdings in shares of Teekay Offshore Partners by 39.5% in the fourth quarter. Raymond James & Associates now owns 62,239 shares of the shipping company’s stock valued at $75,000 after buying an additional 17,620 shares during the last quarter. Essex Financial Services Inc. acquired a new position in shares of Teekay Offshore Partners during the 4th quarter worth about $61,000. JPMorgan Chase & Co. grew its position in shares of Teekay Offshore Partners by 44.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 647,608 shares of the shipping company’s stock valued at $1,515,000 after purchasing an additional 200,315 shares during the period. GSA Capital Partners LLP grew its position in shares of Teekay Offshore Partners by 27.1% in the 3rd quarter. GSA Capital Partners LLP now owns 177,128 shares of the shipping company’s stock valued at $414,000 after purchasing an additional 37,734 shares during the period. Finally, FMR LLC grew its position in shares of Teekay Offshore Partners by 5.4% in the 3rd quarter. FMR LLC now owns 34,492,807 shares of the shipping company’s stock valued at $80,713,000 after purchasing an additional 1,776,005 shares during the period. Institutional investors and hedge funds own 75.86% of the company’s stock.

TOO has been the topic of several research reports. Wells Fargo & Co cut Teekay Offshore Partners from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 10th. Morgan Stanley cut Teekay Offshore Partners from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $2.75 to $1.00 in a research note on Tuesday, January 22nd. Zacks Investment Research upgraded Teekay Offshore Partners from a “strong sell” rating to a “hold” rating and set a $1.25 target price on the stock in a research note on Tuesday, January 29th. ValuEngine upgraded Teekay Offshore Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, TheStreet upgraded Teekay Offshore Partners from a “d” rating to a “c-” rating in a research note on Monday, February 11th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $1.13.

Shares of Teekay Offshore Partners stock traded down $0.03 on Friday, reaching $1.38. 91,415 shares of the company were exchanged, compared to its average volume of 454,704. Teekay Offshore Partners L.P. has a one year low of $1.07 and a one year high of $3.12. The stock has a market cap of $578.63 million, a P/E ratio of 4.76 and a beta of 2.28. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.37.

Teekay Offshore Partners (NYSE:TOO) last announced its quarterly earnings data on Friday, February 8th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Teekay Offshore Partners had a positive return on equity of 17.18% and a negative net margin of 8.25%. The company had revenue of $405.81 million for the quarter, compared to analysts’ expectations of $384.50 million. On average, sell-side analysts expect that Teekay Offshore Partners L.P. will post -0.19 EPS for the current year.

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About Teekay Offshore Partners

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage and Offshore Installation Vessels; and Conventional Tanker.

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Institutional Ownership by Quarter for Teekay Offshore Partners (NYSE:TOO)

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