Dalton Investments LLC Has $1,411,000 Holdings in Teekay Offshore Partners L.P. (TOO)

Dalton Investments LLC held its stake in Teekay Offshore Partners L.P. (NYSE:TOO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 491,700 shares of the shipping company’s stock at the end of the second quarter. Teekay Offshore Partners L.P. makes up about 0.5% of Dalton Investments LLC’s holdings, making the stock its 19th largest holding. Dalton Investments LLC owned 0.33% of Teekay Offshore Partners L.P. worth $1,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC raised its holdings in Teekay Offshore Partners L.P. by 32.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 168,047 shares of the shipping company’s stock worth $852,000 after purchasing an additional 41,165 shares during the last quarter. Eagle Global Advisors LLC raised its holdings in Teekay Offshore Partners L.P. by 1.4% during the 1st quarter. Eagle Global Advisors LLC now owns 11,005,693 shares of the shipping company’s stock worth $55,799,000 after purchasing an additional 155,860 shares during the last quarter. Stifel Financial Corp bought a new position in Teekay Offshore Partners L.P. during the 1st quarter worth approximately $113,000. Avenir Corp raised its holdings in Teekay Offshore Partners L.P. by 7.7% during the 1st quarter. Avenir Corp now owns 1,332,597 shares of the shipping company’s stock worth $6,756,000 after purchasing an additional 95,280 shares during the last quarter. Finally, Van ECK Associates Corp bought a new position in Teekay Offshore Partners L.P. during the 1st quarter worth approximately $4,018,000. Institutional investors and hedge funds own 48.36% of the company’s stock.

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Shares of Teekay Offshore Partners L.P. (NYSE TOO) traded up 0.194% during mid-day trading on Friday, hitting $2.585. 420,797 shares of the stock traded hands. The firm’s 50-day moving average is $2.46 and its 200-day moving average is $3.61. The stock has a market cap of $397.72 million, a price-to-earnings ratio of 4.511 and a beta of 2.73. Teekay Offshore Partners L.P. has a 52 week low of $1.65 and a 52 week high of $6.69.

Teekay Offshore Partners L.P. (NYSE:TOO) last announced its earnings results on Thursday, August 3rd. The shipping company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.12. The firm had revenue of $244.60 million during the quarter, compared to analysts’ expectations of $270.00 million. Teekay Offshore Partners L.P. had a return on equity of 5.24% and a net margin of 11.51%. The company’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, analysts forecast that Teekay Offshore Partners L.P. will post $0.25 earnings per share for the current year.

Several research analysts have issued reports on TOO shares. Morgan Stanley lowered shares of Teekay Offshore Partners L.P. from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $5.50 to $2.00 in a report on Friday, June 9th. Citigroup Inc. upgraded shares of Teekay Offshore Partners L.P. from a “neutral” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Thursday, July 13th. UBS AG lowered shares of Teekay Offshore Partners L.P. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Teekay Offshore Partners L.P. currently has an average rating of “Hold” and an average price target of $3.95.

Teekay Offshore Partners L.P. Profile

Teekay Offshore Partners L.P. is a provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry in North Sea, Brazil and the East Coast of Canada. The Company operates shuttle tankers; towage vessels; floating, production, storage and off-loading (FPSO) units; floating storage and off-take (FSO) units; units for maintenance and safety (UMS); long-distance towing and offshore installation vessels, and conventional crude oil tankers.

Institutional Ownership by Quarter for Teekay Offshore Partners L.P. (NYSE:TOO)

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