Analyst Rating Update on Teekay Offshore Partners L.P. (TOO)

Teekay Offshore Partners L.P. (NYSE:TOO) : The consensus on Teekay Offshore Partners L.P. (NYSE:TOO) based on 7 analyst recommendation on the company stock is 2.71, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Teekay Offshore Partners L.P. (NYSE:TOO).

Teekay Offshore Partners L.P. (NYSE:TOO) : The most positive equity analysts on Teekay Offshore Partners L.P. (NYSE:TOO) expects the shares to touch $8, whereas, the least positive believes that the stock will trade at $4 in the short term. The company is covered by 4 Wall Street Brokerage Firms. The average price target for shares are $6.13 with an expected fluctuation of $1.75 from the mean.

Company shares have received an average consensus rating of Hold for the current week Also, In a research note released to the investors, UBS maintains its rating on Teekay Offshore Partners L.P. (NYSE:TOO).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, UBS lowers the new price target from $9.5 per share to $7 per share. The rating by the firm was issued on June 20, 2016.

Teekay Offshore Partners L.P. (NYSE:TOO): stock turned positive on Tuesday. Though the stock opened at $5.37, the bulls momentum made the stock top out at $5.67 level for the day. The stock recorded a low of $5.31 and closed the trading day at $5.6, in the green by 10.89%. The total traded volume for the day was 988,384. The stock had closed at $5.05 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.

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