TCW Group Inc. Buys Shares of 1,192,869 Teekay Offshore Partners L.P. (TOO)

TCW Group Inc. bought a new position in Teekay Offshore Partners L.P. (NYSE:TOO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,192,869 shares of the shipping company’s stock, valued at approximately $2,791,000. TCW Group Inc. owned 0.29% of Teekay Offshore Partners as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Boston Partners increased its stake in shares of Teekay Offshore Partners by 29.8% during the second quarter. Boston Partners now owns 1,119,295 shares of the shipping company’s stock valued at $2,955,000 after buying an additional 256,927 shares during the period. GSA Capital Partners LLP increased its stake in shares of Teekay Offshore Partners by 159.7% during the second quarter. GSA Capital Partners LLP now owns 139,394 shares of the shipping company’s stock valued at $368,000 after buying an additional 85,711 shares during the period. Royce & Associates LP purchased a new position in shares of Teekay Offshore Partners during the second quarter valued at $148,000. Renaissance Technologies LLC increased its stake in shares of Teekay Offshore Partners by 16.3% during the second quarter. Renaissance Technologies LLC now owns 756,405 shares of the shipping company’s stock valued at $1,997,000 after buying an additional 106,005 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Teekay Offshore Partners by 10.9% during the second quarter. Van ECK Associates Corp now owns 1,239,186 shares of the shipping company’s stock valued at $3,271,000 after buying an additional 121,556 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Several equities analysts have recently commented on the company. ValuEngine lowered Teekay Offshore Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research upgraded Teekay Offshore Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 26th.

Shares of TOO stock opened at $1.98 on Friday. Teekay Offshore Partners L.P. has a 1-year low of $1.98 and a 1-year high of $3.12. The stock has a market cap of $893.90 million, a P/E ratio of 109.00 and a beta of 2.38. The company has a debt-to-equity ratio of 12.48, a quick ratio of 0.61 and a current ratio of 0.61.

Teekay Offshore Partners (NYSE:TOO) last issued its quarterly earnings data on Thursday, August 2nd. The shipping company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Teekay Offshore Partners had a negative net margin of 36.83% and a positive return on equity of 2.83%. The company had revenue of $283.87 million for the quarter, compared to the consensus estimate of $293.19 million. On average, equities analysts anticipate that Teekay Offshore Partners L.P. will post -0.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, November 2nd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, November 1st. Teekay Offshore Partners’s payout ratio is currently 400.00%.

Teekay Offshore Partners Company Profile

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage; and Conventional Tanker.

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

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