Finance

Teekay Offshore Partners LP (NYSE:TOO) Institutional Investor Positioning Change

Teekay Offshore Partners LP (NYSE:TOO) Institutional Investor Positioning Change

The company's revenue was down 12.5% compared to the same quarter previous year.

As of the last earnings report the EPS was $-1.52 and is projected to be $-1.26 for the current year with 86,259,000 shares outstanding. Sell-side analyst recommendations point to a short term price target of $2.88 on the company shares.

Teekay Corporation (NYSE:TK) last announced its quarterly earnings results on Thursday, August 3rd. The shipping company reported $0.07 earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.05) by $0.12. The firm had revenue of $244.60 million during the quarter, compared to analysts' expectations of $270 million.

Teekay Offshore Partners L.P. The company's forward price to earnings ratio for next fiscal year is 4.24. RBC Capital Markets maintained the stock with "Hold" rating in Friday, June 16 report. Also, the Hold rating count is 2 as of 08/09/17. Royal Bank Of Canada reaffirmed a "hold" rating on shares of Teekay Corporation in a research report on Friday, June 16th. UBS AG cut shares of Teekay Offshore Partners L.P. from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of Teekay Offshore Partners L.P. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. The company now has a consensus rating of "Hold" and an average price target of $5.33. The value of the total investment in Teekay LNG Partners L.P. went from $210,000 to $205,000 a change of 2.4% for the reporting period. The stock had a trading volume of 930,988 shares. Teekay LNG Partners L.P. (NYSE:TGP) has risen 9.88% since August 11, 2016 and is uptrending. The stock has a market cap of $1.45 billion, a PE ratio of 10.66 and a beta of 1.20.

Company chares are trading at $9.17 which is significantly above the 50 day moving average of $7.97 and which is quite a bit higher than the 200 day moving average of $8.44.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, August 4th will be issued a dividend of $0.055 per share.

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It has a dividend yield of 2.40%. The ex-dividend date will be on Wednesday August 2nd, 2017. Teekay LNG Partners L.P.'s dividend payout ratio is now 32.75%.

Several institutional investors have recently modified their holdings of TK. LLC boosted its stake in shares of Teekay Offshore Partners L.P.by 3.9% in the first quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company's stock worth $101,000 after buying an additional 1,057 shares in the last quarter. State Street Corp increased its position in shares of Teekay Corporation by 50.3% in the fourth quarter. Ronna Sue Cohen raised its position in Teekay Offshore Partners L.P.by 0.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 663,869 shares of the shipping company's stock worth $6,075,000 after buying an additional 128,902 shares in the last quarter. Berson & Corrado Investment Advisors LLC increased its stake in shares of Teekay Offshore Partners L.P.by 0.6% in the second quarter. Bank of America Corp DE now owns 412,008 shares of the shipping company's stock worth $3,770,000 after buying an additional 316,885 shares in the last quarter.

Hi-Crush Partners LP has a consensus outperform rating from 9 Wall Street analysts, and the number of shares now sold short amount to at least 8.83% of shares outstanding.

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Teekay Corporation (Teekay), launched on February 9, 1979, is a provider of crude oil and gas marine transportation services.