Teekay Offshore Partners (TOO) Earning Somewhat Favorable News Coverage, Analysis Finds

Marco Green
April 17, 2018

The company has a market cap of $1,066.12, a price-to-earnings ratio of 265.00, a P/E/G ratio of 2.80 and a beta of 2.55. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.09). Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. About 145,108 shares traded.

Brokerages expect Teekay Offshore Partners L.P. (NYSE:TOO) to report $267.37 million in sales for the current quarter, Zacks Investment Research reports. It has underperformed by 22.65% the S&P500. KNOT Offshore Partners GP LLC serves as the general partner of the company. Torch Wealth Management Llc bought 22,463 shares as the company's stock declined 23.20% with the market.

Several equities analysts have issued reports on TOO shares. Schwartz Investment Counsel Inc who had been investing in Pnc Finl Svcs Group Inc for a number of months, seems to be less bullish one the $68.37 billion market cap company. The stock increased 0.96% or $0.88 during the last trading session, reaching $92.71. About 1.48 million shares traded. It has underperformed by 34.48% the S&P500. (NYSE:GIS), 4 have Buy rating, 3 Sell and 17 Hold. KNOT Offshore Partners had 12 analyst reports since August 14, 2015 according to SRatingsIntel.

The firm has "Buy" rating given on Tuesday, October 20 by S&P Research. The firm has "Hold" rating by Stifel Nicolaus given on Tuesday, April 3. Clarkson Platou Securities downgraded it to "Neutral" rating and $20 target in Wednesday, October 14 report. First Manhattan Communications holds 0.04% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO) for 2.75M shares. The stock presently has a consensus rating of "Hold" and a consensus price target of $4.83. The firm has "Sell" rating given on Wednesday, April 6 by Societe Generale.

Investors sentiment decreased to 0.93 in Q4 2017. Its down 0.05, from 0.85 in 2017Q3. Wealth Architects Ltd Limited Liability Company reported 0.18% of its portfolio in General Electric Company (NYSE:GE). Crestpoint Management Ltd Liability Com holds 0.49% or 9,200 shares in its portfolio. Lazard Asset Management Ltd Liability Company reported 5.36 million shares. (NYSE:GIS). California-based Granite Prtnrs Lc has invested 0.07% in General Mills, Inc. Exane Derivatives accumulated 53 shares. 258,379 were accumulated by South State. Peak6 LP has 0.1% invested in Comcast Corporation (NASDAQ:CMCSA) for 559,609 shares. The stock increased 1.24% or $0.555 during the last trading session, reaching $45.355. Westchester Capital Mgmt holds 1.98% or 276,212 shares. Virginia Retirement System Et Al invested 0.47% of its portfolio in AbbVie Inc. Institutional investors own 77.87% of the company's stock. Highland Limited Partnership, a Texas-based fund reported 184,470 shares. The highest sales estimate is $67.92 million and the lowest is $66.10 million. Teekay Offshore Partners has a 12 month low of $1.65 and a 12 month high of $5.72. Therefore 43% are positive. Moreover, Berson Corrado Lc has 0.15% invested in Teekay Offshore Partners L.P. (NYSE:TOO). Cowen & Co upgraded the shares of ABBV in report on Wednesday, October 11 to "Outperform" rating. The rating was maintained by UBS with "Buy" on Monday, June 20. TheStreet upgraded shares of KNOT Offshore Partners from a "c" rating to a "b-" rating in a research note on Wednesday, February 21st. Zacks Investment Research raised Teekay Offshore Partners from a "sell" rating to a "hold" rating in a research report on Thursday, January 11th. The firm has "Neutral" rating given on Friday, August 7 by Citigroup. Teekay Offshore Partners had a positive return on equity of 3.87% and a negative net margin of 28.37%. RBC Capital Markets maintained the stock with "Sector Perform" rating in Thursday, December 17 report. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) has "Equal-Weight" rating given on Tuesday, April 19 by Morgan Stanley. Its down 0.11, from 0.9 in 2017Q3.

Want to see what other hedge funds are holding TOO? 139 funds opened positions while 448 raised stakes. Kornitzer Capital Mngmt Ks owns 16,102 shares for 0.01% of their portfolio. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) earned "Market Perform" rating by Raymond James on Friday, July 28. 15,376 were reported by Two Sigma Secs Ltd Llc. Teekay Offshore Partners's payout ratio is 400.00%. Morgan Stanley downgraded AbbVie Inc. Van Eck accumulated 618,956 shares. National Bank Of Mellon invested in 15,021 shares. Bremer Tru Association holds 0.21% of its portfolio in General Mills, Inc. Brookfield Asset Mgmt invested in 175,207 shares.

Hite Hedge Asset Management Llc, which manages about $778.61 million and $566.34 million US Long portfolio, upped its stake in Western Gas Equity Partners (NYSE:WGP) by 273,083 shares to 310,749 shares, valued at $11.55M in 2017Q4, according to the filing. It also increased its holding in Cisco Sys Inc (NASDAQ:CSCO) by 9,000 shares in the quarter, for a total of 915,000 shares, and has risen its stake in Hexcel Corp New (NYSE:HXL).

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