RBC Capital Upgrades Teekay Offshore Partners L.P. to Outperform

Brokerage firm RBC Capital Upgrades its rating on Teekay Offshore Partners L.P.(NYSE:TOO). The shares have been rated Outperform. Previously, the analysts had a Sector Perform rating on the shares. The rating by RBC Capital was issued on Aug 18, 2016.

In a different note, On Jun 20, 2016, UBS said it Maintains its rating on Teekay Offshore Partners L.P.. In the research note, the firm Lowers the price-target to $9.50 per share. The shares have been rated ‘Buy’ by the firm.

Teekay Offshore Partners L.P. (TOO) remained unchanged at the close of Monday session. Even as the volume increased to 5,66,603 ,the shares failed to make any impression and ended at 0 points or 0.00% at $5.36. The trading session commenced at $5.38 and the stock hit a high of $5.46 and touched $5.25 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $18.08 and the 52-week low is $2.3. The company has a market cap of $736 M and has approximately 13,74,00,000 outstanding shares.

Teekay Offshore Partners L.P.(TOO) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $284.46M. Analysts had an estimated revenue of $269.61M. Earnings per share were $0.22. Analysts had estimated an EPS of $0.24.

Teekay Offshore Partners L.P. is a provider of marine transportation oil production storage towage and floating accommodation services to the offshore oil industry focusing on the fast-growing deep-water offshore oil regions of the North Sea and Brazil. The Company operates shuttle tankers floating production storage and off-loading (FPSO) units floating storage and off-take (FSO) units and conventional crude oil tankers. As of December 31 2014 the Company’s fleet consisted of 34 shuttle tankers including two chartered-in vessels and one HiLoad Dynamic Positioning (DP) unit; seven FPSO units including the Libra FPSO and the Petrojarl I FPSO conversion and upgrade projects; six FSO units and four conventional oil tankers in which its interests range from 50% to 100%. Its operational segments include the shuttle tanker segment the FPSO segment the FSO segment the conventional tanker segment towage segment and floating accommodation units (FAUs) segment.

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