Teekay Offshore Partners L.P. (NYSE:TOO) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 288,000 shares, a drop of 17.0% from the May 30th total of 347,100 shares. Based on an average daily volume of 525,000 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the company’s shares are short sold.
Several large investors have recently modified their holdings of the business. CI Investments Inc. acquired a new stake in shares of Teekay Offshore Partners during the 4th quarter valued at $7,260,000. Evergreen Capital Management LLC boosted its stake in shares of Teekay Offshore Partners by 4.1% during the 1st quarter. Evergreen Capital Management LLC now owns 3,578,930 shares of the shipping company’s stock valued at $4,295,000 after buying an additional 140,171 shares during the period. Globeflex Capital L P acquired a new stake in shares of Teekay Offshore Partners during the 4th quarter valued at $578,000. Deutsche Bank AG boosted its stake in shares of Teekay Offshore Partners by 62.0% during the 4th quarter. Deutsche Bank AG now owns 445,900 shares of the shipping company’s stock valued at $539,000 after buying an additional 170,645 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Teekay Offshore Partners by 48.4% during the 4th quarter. Millennium Management LLC now owns 262,475 shares of the shipping company’s stock valued at $318,000 after buying an additional 85,635 shares during the period. 74.84% of the stock is owned by institutional investors.
A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, TheStreet lowered shares of UDR from a “b” rating to a “c” 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 given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $1.13.
Shares of NYSE:TOO opened at $1.31 on Friday. The firm’s fifty day moving average is $1.19. The firm has a market cap of $537.51 million, a price-to-earnings ratio of 4.52 and a beta of 2.36. Teekay Offshore Partners has a 12-month low of $1.03 and a 12-month high of $2.63. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.41.
Teekay Offshore Partners (NYSE:TOO) last issued its earnings results on Tuesday, April 30th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. The company had revenue of $302.57 million during the quarter, compared to analyst estimates of $280.50 million. Teekay Offshore Partners had a negative net margin of 10.04% and a positive return on equity of 20.06%.
Teekay Offshore Partners Company Profile
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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