Advisory Research Inc Declares Ownership of 6.8% Stake in Teekay Offshore Partners L.P. (TOO)

Advisory Research Inc

revealed that they own a 6.8% stake in Teekay Offshore Partners L.P. (NYSE:TOO) in a Schedule 13G/A disclosure that was filed with the SEC on Monday, September 11th. The investor owns 10,527,710 shares of the stock valued at about $25,687,612. The reporting parties listed on the disclosure included Advisory Research Inc and Piper Jaffray Companies. The filing is available through EDGAR at this link.

Several other hedge funds also recently modified their holdings of the company. Brookfield Asset Management Inc. increased its stake in shares of Teekay Offshore Partners L.P. by 273.9% during the 2nd quarter. Brookfield Asset Management Inc. now owns 175,207 shares of the shipping company’s stock worth $503,000 after purchasing an additional 128,343 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Teekay Offshore Partners L.P. by 55.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 317,343 shares of the shipping company’s stock worth $911,000 after purchasing an additional 113,300 shares during the last quarter. Luzich Partners LLC increased its stake in shares of Teekay Offshore Partners L.P. by 27.7% during the 2nd quarter. Luzich Partners LLC now owns 1,188,335 shares of the shipping company’s stock worth $3,411,000 after purchasing an additional 257,700 shares during the last quarter. FMR LLC increased its stake in shares of Teekay Offshore Partners L.P. by 2.1% during the 2nd quarter. FMR LLC now owns 14,751,410 shares of the shipping company’s stock worth $42,337,000 after purchasing an additional 302,413 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of Teekay Offshore Partners L.P. by 47.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,000,932 shares of the shipping company’s stock worth $2,873,000 after purchasing an additional 323,232 shares during the last quarter. Institutional investors own 48.36% of the company’s stock.

Shares of Teekay Offshore Partners L.P. (NYSE TOO) traded down 0.164% during midday trading on Monday, hitting $2.436. 142,351 shares of the stock traded hands. The firm has a market capitalization of $374.80 million, a PE ratio of 4.251 and a beta of 2.73. The company’s 50-day moving average is $2.46 and its 200 day moving average is $3.67. Teekay Offshore Partners L.P. has a 52 week low of $1.65 and a 52 week high of $6.69.

Teekay Offshore Partners L.P. (NYSE:TOO) last released its quarterly earnings results on Thursday, August 3rd. The shipping company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. Teekay Offshore Partners L.P. had a net margin of 11.51% and a return on equity of 5.24%. The business had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $270 million. During the same period last year, the business earned $0.22 EPS. The company’s revenue was down 14.0% compared to the same quarter last year. Analysts anticipate that Teekay Offshore Partners L.P. will post $0.25 earnings per share for the current year.

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Several equities research analysts have recently issued reports on TOO shares. ValuEngine lowered shares of Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Morgan Stanley lowered shares of Teekay Offshore Partners L.P. from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $5.50 to $2.00 in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Teekay Offshore Partners L.P. from a “hold” rating to a “strong-buy” rating and set a $2.25 price target for the company in a research note on Saturday, June 24th. Citigroup Inc. upgraded shares of Teekay Offshore Partners L.P. from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, UBS AG lowered shares of Teekay Offshore Partners L.P. from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.94.

About Teekay Offshore Partners L.P.

Teekay Offshore Partners L.P. is a provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry in North Sea, Brazil and the East Coast of Canada. The Company operates shuttle tankers; towage vessels; floating, production, storage and off-loading (FPSO) units; floating storage and off-take (FSO) units; units for maintenance and safety (UMS); long-distance towing and offshore installation vessels, and conventional crude oil tankers.

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Institutional Ownership by Quarter for Teekay Offshore Partners L.P. (NYSE:TOO)

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