Tuesday, 22 August, 2017

Teekay Offshore Partners LP

Preston Stone | 12 August, 2017, 07:49

Teekay Corporation (NYSE:TK) last announced its quarterly earnings results on Thursday, August 3rd. The shipping company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of ($0.05) by $0.12. The business had revenue of $244.60 million during the quarter, compared to analysts' expectations of $270 million.

Teekay LNG Partners L.P., launched on November 3, 2004, is an worldwide provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The company's revenue for the quarter was down 15.2% on a year-over-year basis. Barrington Research maintained the stock with "Outperform" rating in Friday, September 4 report. Finally, Creative Planning boosted its stake in shares of Teekay Offshore Partners L.P.by 20.7% in the second quarter. Royal Bank Of Canada reaffirmed a "hold" rating on shares of Teekay Corporation in a research report on Friday, June 16th. Finally, Stifel Nicolaus reiterated a "hold" rating and issued a $16.00 target price on shares of Teekay LNG Partners L.P.in a research note on Thursday, July 6th. Out of 8 Wall Street analysts rating Teekay Offshore, 4 give it "Buy", 1 "Sell" rating, while 3 recommend "Hold". Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The majority of analysts covering the equity have either a Buy or Strong Buy recommendation on the stock, yielding a consensus score of 2.20.

Stock research firms now have a positive stance on shares of Teekay LNG Partners L.P. (NYSE:TGP). The company had a trading volume of 1,183,272 shares.

Teekay Offshore Partners L.P. has a 12 month low of $1.65 and a 12 month high of $6.69.

In the market the company is trading down since yesterday's close of $9.49. Teekay Offshore Partners LP (NYSE:TOO)'s price sits 1.93% above from its 50-day moving average of $2.5 and -43.06% away from the stock's 200-day moving average which is $4.22.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.01 per share. This represents a $0.56 annualized dividend and a yield of 3.16%. The ex-dividend date is Wednesday, August 2nd. The stock of Teekay LNG Partners L.P. (NYSE:TGP) earned "Hold" rating by Jefferies on Tuesday, September 13.

Several institutional investors have recently modified their holdings of TK.

Teekay LNG Partners L.P.is an worldwide provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. Ronna Sue Cohen now owns 101,454 shares of the shipping company's stock worth $514,000 after buying an additional 686 shares during the last quarter. Teekay LNG Partners L.P. Berson & Corrado Investment Advisors LLC increased its stake in shares of Teekay Offshore Partners L.P.by 0.6% in the second quarter. Brookfield Asset Management Inc. acquired a new position in Teekay Offshore Partners L.P. during the first quarter valued at approximately $238,000. Bank of America Corp DE now owns 412,008 shares of the shipping company's stock worth $3,770,000 after buying an additional 316,885 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

TRADEMARK VIOLATION NOTICE: This news story was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and global trademark and copyright legislation.

Teekay Corporation is a provider of crude gas and oil marine transportation services. The Firm also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Firm is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the activities in the offshore production, storage and transportation sector.

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