Teekay Offshore Partners L.P. (NYSE:TOO) has tumbled 0.56% during the past week and has dropped 14.1% in the last 4 week period. The company has outperformed the S&P 500 by 0.64% in the past week but underperformed the index by 14.89% in the last 4 weeks.
Teekay Offshore Partners L.P. (NYSE:TOO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.12 and $5.01 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.50. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.36, notching a gain of 17.80% for the day. The total traded volume was 10,357,119 . The stock had closed at $4.55 on the previous day.
The company shares have dropped -74.66% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $21.44 and the one year low was seen on Feb 12, 2016. The 50-Day Moving Average price is $5.78 and the 200 Day Moving Average price is recorded at $5.51.
Many analysts have stated their opinion on the company shares. Morgan Stanley initiates coverage on Teekay Offshore Partners L.P. (NYSE:TOO) . The global brokerage major announces a current price target of $6 per share. Analysts at the Morgan Stanley have a current rating of Equal-weight on the shares. The rating by the firm was issued on April 19, 2016. Institutional Investors own 47.58% of Teekay Offshore Partners L.P. shares.
Teekay Offshore Partners L.P. is a provider of marine transportation, oil production, storage, towage and floating accommodation services to the offshore oil industry focusing on the fast-growing, deep-water offshore oil regions of the North Sea and Brazil. The Company operates shuttle tankers, floating production, storage and off-loading (FPSO) units, floating storage and off-take (FSO) units, and conventional crude oil tankers. As of December 31, 2014, the Companys fleet consisted of 34 shuttle tankers, including two chartered-in vessels and one HiLoad Dynamic Positioning (DP) unit; seven FPSO units, including the Libra FPSO and the Petrojarl I FPSO conversion and upgrade projects; six FSO units, and four conventional oil tankers, in which its interests range from 50% to 100%. Its operational segments include the shuttle tanker segment, the FPSO segment, the FSO segment, the conventional tanker segment, towage segment and floating accommodation units (FAUs) segment.