Teekay Offshore Partners L.P. (TOO) : During the past 4 weeks, traders have been relatively bearish on Teekay Offshore Partners L.P. (TOO), hence the stock is down -12.84% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -3.47% relative to the S&P 500. The 4-week change in the price of the stock is -11.94% and the stock has fallen -3.42% in the past 1 week.
The stock has recorded a 20-day Moving Average of 6.08% and the 50-Day Moving Average is 6.57%. Teekay Offshore Partners L.P. (NYSE:TOO): On Fridays trading session , Opening price of the stock was $5.22 with an intraday high of $5.2292. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $5.06. However, the stock managed to close at $5.09, a loss of 2.30% for the day. On the previous day, the stock had closed at $5.21. The total traded volume of the day was 647,576 shares.
Institutional Investors own 50.84% of Teekay Offshore Partners L.P. shares. Also, UBS maintains its rating on Teekay Offshore Partners L.P. (NYSE:TOO). The global brokerage major lowers the current price target from $9.5 per share to $7 per share. Analysts at the UBS have a current rating of Buy on the shares. The rating by the firm was issued on June 20, 2016.
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.