Teekay Offshore Partners L.P. (NYSE:TOO) has risen sharply, recording gains of 2.6% in the past 4 weeks. However, the stock has corrected -5.47% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.97% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have dropped -72.07% from its 1 Year high price. On Jul 13, 2015, the shares registered one year high at $20.15 and the one year low was seen on Feb 12, 2016. The 50-Day Moving Average price is $5.70 and the 200 Day Moving Average price is recorded at $5.12.
The stock has recorded a 20-day Moving Average of 1.98% and the 50-Day Moving Average is 4.11%.
Teekay Offshore Partners L.P. (NYSE:TOO): stock turned positive on Friday. Though the stock opened at $5.47, the bulls momentum made the stock top out at $5.53 level for the day. The stock recorded a low of $5.22 and closed the trading day at $5.53, in the green by 3.75%. The total traded volume for the day was 804,905. The stock had closed at $5.33 in the previous days trading.
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.