Arrow Investment Advisors LLC Sells 41,217 Shares of Teekay Offshore Partners L.P. (TOO)

Arrow Investment Advisors LLC lowered its holdings in shares of Teekay Offshore Partners L.P. (NYSE:TOO) by 22.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 140,452 shares of the shipping company’s stock after selling 41,217 shares during the period. Arrow Investment Advisors LLC owned about 0.09% of Teekay Offshore Partners L.P. worth $403,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Teekay Offshore Partners L.P. by 8.8% during the 1st quarter. FMR LLC now owns 14,448,997 shares of the shipping company’s stock valued at $73,256,000 after purchasing an additional 1,170,300 shares during the last quarter. Eagle Global Advisors LLC grew its holdings in shares of Teekay Offshore Partners L.P. by 5.3% during the 2nd quarter. Eagle Global Advisors LLC now owns 11,588,773 shares of the shipping company’s stock valued at $33,260,000 after purchasing an additional 583,080 shares during the last quarter. Avenir Corp grew its holdings in shares of 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 valued at $6,756,000 after purchasing an additional 95,280 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Teekay Offshore Partners L.P. by 686.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,251,429 shares of the shipping company’s stock valued at $6,345,000 after purchasing an additional 1,092,370 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in shares of Teekay Offshore Partners L.P. by 47.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,000,932 shares of the shipping company’s stock valued at $2,873,000 after purchasing an additional 323,232 shares during the last quarter. 48.35% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on the stock. ValuEngine lowered shares of Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Morgan Stanley lowered shares of Teekay Offshore Partners L.P. from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $5.50 to $2.00 in a report on Friday, June 9th. Zacks Investment Research raised shares of Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Thursday, July 13th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Teekay Offshore Partners L.P. in a report on Friday, July 28th. Finally, 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. Two equities research 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. The company presently has an average rating of “Hold” and an average target price of $3.95.

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Shares of Teekay Offshore Partners L.P. (NYSE:TOO) traded up 1.346% during midday trading on Tuesday, reaching $2.635. 115,993 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $2.46 and its 200-day moving average is $3.56. The stock has a market cap of $405.42 million, a PE ratio of 4.599 and a beta of 2.73. Teekay Offshore Partners L.P. has a 12-month low of $1.65 and a 12-month high of $6.69.

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

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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