Teekay Offshore Partners L.P. (TOO) : Traders are bullish on Teekay Offshore Partners L.P. (TOO) as it has outperformed the S&P 500 by a wide margin of 14.9% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 13.89%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 14.08% in the last 1 week, and is up 14.29% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 11.15% and the 50-Day Moving Average is 14.82%.The 200 Day SMA reached 23.04%
Teekay Offshore Partners L.P. (NYSE:TOO): After opening at $6.21, the stock dipped to an intraday low of $5.99 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $6.36 and the buying power remained strong till the end. The stock closed at $6.32 for the day, a gain of 3.95% for the day session. The total traded volume was 1,006,269. The stocks close on the previous trading day was $6.32.
Teekay Offshore Partners L.P. (TOO) : The consensus price target for Teekay Offshore Partners L.P. (TOO) is $6.5 for the short term with a standard deviation of $1.73. The most optimist securities analyst among the 5 who monitor the stock believes that the stock can reach $8, however, the pessimist price target for the company is $4.
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.