Teekay Offshore Partners (NYSE:TOO) Posts Earnings Results

Teekay Offshore Partners (NYSE:TOO) posted its quarterly earnings results on Wednesday. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, Morningstar.com reports. The company had revenue of $287.15 million during the quarter. Teekay Offshore Partners had a positive return on equity of 16.51% and a negative net margin of 0.21%.

Shares of NYSE:TOO remained flat at $$1.14 during midday trading on Friday. 292,337 shares of the stock were exchanged, compared to its average volume of 205,606. The company has a market cap of $475.96 million, a price-to-earnings ratio of 3.93 and a beta of 2.37. Teekay Offshore Partners has a 1 year low of $1.03 and a 1 year high of $2.59. The company has a fifty day moving average of $1.21. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.48 and a quick ratio of 0.48.

A number of analysts have recently weighed in on TOO shares. Zacks Investment Research upgraded shares of Teekay Offshore Partners from a “hold” rating to a “strong-buy” rating and set a $1.25 price objective on the stock in a research note on Thursday, May 16th. ValuEngine lowered shares of Teekay Offshore Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, TheStreet lowered shares of Teekay Offshore Partners from a “c-” rating to a “d+” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $1.13.

Large investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in shares of Teekay Offshore Partners by 48.4% in the fourth quarter. Millennium Management LLC now owns 262,475 shares of the shipping company’s stock worth $318,000 after acquiring an additional 85,635 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Teekay Offshore Partners by 4.1% in the first quarter. Evergreen Capital Management LLC now owns 3,578,930 shares of the shipping company’s stock worth $4,295,000 after acquiring an additional 140,171 shares during the period. Deutsche Bank AG increased its stake in shares of Teekay Offshore Partners by 62.0% in the fourth quarter. Deutsche Bank AG now owns 445,900 shares of the shipping company’s stock worth $539,000 after acquiring an additional 170,645 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Teekay Offshore Partners in the fourth quarter worth $78,000. Finally, Raymond James & Associates increased its stake 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 worth $75,000 after acquiring an additional 17,620 shares during the period. Hedge funds and other institutional investors own 74.84% of the company’s stock.

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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Earnings History for Teekay Offshore Partners (NYSE:TOO)

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