Boston Partners increased its stake in Teekay Offshore Partners L.P. (NYSE:TOO) by 29.8% in the second quarter, Holdings Channel reports. The institutional investor owned 1,119,295 shares of the shipping company’s stock after acquiring an additional 256,927 shares during the period. Boston Partners’ holdings in Teekay Offshore Partners were worth $2,955,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Natixis increased its stake in Teekay Offshore Partners by 100.0% in the first quarter. Natixis now owns 50,000 shares of the shipping company’s stock worth $113,000 after purchasing an additional 25,000 shares during the period. GSA Capital Partners LLP increased its stake in Teekay Offshore Partners by 179.6% in the first quarter. GSA Capital Partners LLP now owns 53,683 shares of the shipping company’s stock worth $122,000 after purchasing an additional 34,482 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Teekay Offshore Partners in the first quarter worth $122,000. Millennium Management LLC increased its stake in Teekay Offshore Partners by 7.2% in the fourth quarter. Millennium Management LLC now owns 866,002 shares of the shipping company’s stock worth $2,044,000 after purchasing an additional 58,345 shares during the period. Finally, Evergreen Capital Management LLC increased its stake in Teekay Offshore Partners by 11.3% in the first quarter. Evergreen Capital Management LLC now owns 1,465,942 shares of the shipping company’s stock worth $3,328,000 after purchasing an additional 148,840 shares during the period. Institutional investors own 76.50% of the company’s stock.
A number of analysts have weighed in on TOO shares. Zacks Investment Research upgraded Teekay Offshore Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 26th. ValuEngine upgraded Teekay Offshore Partners from a “hold” rating to a “buy” rating in a research note on Monday, April 30th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Teekay Offshore Partners in a research note on Thursday, June 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $3.13.
Shares of Teekay Offshore Partners stock opened at $2.46 on Wednesday. The firm has a market cap of $1.01 billion, a PE ratio of 246.00 and a beta of 2.56. The company has a debt-to-equity ratio of 12.48, a quick ratio of 0.61 and a current ratio of 0.61. Teekay Offshore Partners L.P. has a 12 month low of $2.14 and a 12 month high of $3.12.
The company also recently declared a quarterly dividend, which was paid on Friday, August 10th. Stockholders of record on Friday, August 3rd were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $0.04 annualized dividend and a dividend yield of 1.63%. Teekay Offshore Partners’s dividend payout ratio is currently 400.00%.
About Teekay Offshore Partners
Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage; and Conventional Tanker.
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