Teekay Offshore Partners (NYSE:TOO) Downgraded by ValuEngine to Sell

ValuEngine lowered shares of Teekay Offshore Partners (NYSE:TOO) from a hold rating to a sell rating in a research report report published on Friday, November 8th, ValuEngine reports.

Teekay Offshore Partners stock remained flat at $$1.54 during midday trading on Friday. 237,706 shares of the company traded hands, compared to its average volume of 697,377. The firm has a 50 day moving average price of $1.54 and a two-hundred day moving average price of $1.29. Teekay Offshore Partners has a twelve month low of $1.03 and a twelve month high of $1.78. The stock has a market capitalization of $629.84 million, a PE ratio of 5.34 and a beta of 2.46. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.78 and a quick ratio of 0.78.

Hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC acquired a new position in Teekay Offshore Partners during the second quarter worth $25,000. Cubist Systematic Strategies LLC boosted its position in Teekay Offshore Partners by 44.3% during the second quarter. Cubist Systematic Strategies LLC now owns 43,397 shares of the shipping company’s stock worth $55,000 after purchasing an additional 13,328 shares during the period. Acadian Asset Management LLC boosted its position in Teekay Offshore Partners by 44.0% during the second quarter. Acadian Asset Management LLC now owns 162,139 shares of the shipping company’s stock worth $205,000 after purchasing an additional 49,526 shares during the period. Renaissance Technologies LLC boosted its position in Teekay Offshore Partners by 100.0% during the second quarter. Renaissance Technologies LLC now owns 487,318 shares of the shipping company’s stock worth $614,000 after purchasing an additional 243,718 shares during the period. Finally, Morgan Stanley boosted its position in shares of Teekay Offshore Partners by 48.3% in the second quarter. Morgan Stanley now owns 534,299 shares of the shipping company’s stock valued at $673,000 after acquiring an additional 174,120 shares during the period. Hedge funds and other institutional investors own 89.34% of the company’s stock.

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.

Further Reading: Price-Sales Ratio

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