UBS Maintains Teekay Offshore Partners L.P. to Buy with Price Target $7.00

Brokerage firm UBS Maintains its rating on Teekay Offshore Partners L.P.(NYSE:TOO). In a research note issued to the investors, the brokerage major Lowers the price-target to $7.00 per share. The shares have been rated Buy. The rating by UBS was issued on Jun 20, 2016.

In a different note, Morgan Stanley said it Initiates Coverage on Teekay Offshore Partners L.P., according to a research note issued on Apr 19, 2016. The shares have been rated ‘Equal-weight’ by the firm.

Teekay Offshore Partners L.P. (TOO) shares turned negative on Fridays trading session with the shares closing down -0.18 points or -3.04% at a volume of 12,08,757. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.87. The peak price level was also seen at $5.87 while the days lowest was $5.34. Finally the shares closed at $5.75. The 52-week high of the shares is $21.4399 while the 52-week low is $2.3. According to the latest information available, the market cap of the company is $616 M.

Teekay Offshore Partners L.P.(TOO) last announced its earnings results on May 19, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $288.36M. Analysts had an estimated revenue of $313.81M. Earnings per share were $0.41. Analysts had estimated an EPS of $0.42.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Teekay Offshore Partners L.P. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Teekay Offshore Partners L.P.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.