Teekay Offshore Partners L.P. (TOO) : 1 brokerage houses believe that Teekay Offshore Partners L.P. (TOO) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Teekay Offshore Partners L.P. (TOO). Zacks Investment Research suggests a Strong Sell with a rank of 5. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 7 Wall Street Analysts endorse the stock as a Hold with a rating of 2.57.
Teekay Offshore Partners L.P. (TOO) : Average target price received by Teekay Offshore Partners L.P. (TOO) is $6.5 with an expected standard deviation of $1.73. The most aggressive target on the stock is $8, whereas the most downbeat target is $4. 5 financial analysts are currently covering the stock.
Also, RBC Capital upgrades their rating on the shares of Teekay Offshore Partners L.P. (NYSE:TOO). The current rating of the shares is Outperform. Earlier, the shares were rated a Sector Perform by the brokerage firm. The rating by the firm was issued on August 18, 2016.
Teekay Offshore Partners L.P. (NYSE:TOO): After opening at $5.46, the stock dipped to an intraday low of $5.46 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $5.69 and the buying power remained strong till the end. The stock closed at $5.57 for the day, a gain of 1.83% for the day session. The total traded volume was 537,590. The stocks close on the previous trading day was $5.47.
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 Companys 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.