1.11 is Teekay Offshore Partners LP’s (NYSE:TOO) Institutional Investor Sentiment

June 13, 2018 - By Clifton Ray

Teekay Offshore Partners L.P. (NYSE:TOO) Logo

Sentiment for Teekay Offshore Partners LP (NYSE:TOO)

Teekay Offshore Partners LP (NYSE:TOO) institutional sentiment increased to 1.11 in Q1 2018. Its up 0.32, from 0.79 in 2017Q4. The ratio increased, as 31 funds started new and increased stock positions, while 28 sold and decreased positions in Teekay Offshore Partners LP. The funds in our partner’s database reported: 311.05 million shares, up from 73.81 million shares in 2017Q4. Also, the number of funds holding Teekay Offshore Partners LP in their top 10 stock positions increased from 0 to 1 for an increase of 1. Sold All: 10 Reduced: 18 Increased: 20 New Position: 11.

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing, offshore installation and maintenance, and safety services to the energy and oil service companies in the North Sea, Brazil, and the East Coast of Canada. The company has market cap of $1.09 billion. The firm operates through six divisions: Floating Production, Storage and Offloading ; Shuttle Tanker; Floating Storage and Off-Take (FSO); Units for Maintenance and Safety (UMS); Towage; and Conventional Tanker. It currently has negative earnings. As of December 31, 2016, its fleet consisted of 31 shuttle tankers, 6 FPSO units, 7 FSO units, 7 long-distance towing and offshore installation vessels, 1 UMS, and 2 chartered-in conventional oil tankers.

The stock increased 1.18% or $0.03 during the last trading session, reaching $2.58. About 358,679 shares traded. Teekay Offshore Partners L.P. (NYSE:TOO) has declined 17.07% since June 13, 2017 and is downtrending. It has underperformed by 29.64% the S&P500.

Analysts await Teekay Offshore Partners L.P. (NYSE:TOO) to report earnings on August, 2. They expect $0.02 earnings per share, down 71.43 % or $0.05 from last year’s $0.07 per share. TOO’s profit will be $8.43M for 32.25 P/E if the $0.02 EPS becomes a reality. After $0.01 actual earnings per share reported by Teekay Offshore Partners L.P. for the previous quarter, Wall Street now forecasts 100.00 % EPS growth.

Silver Capital Management Llc holds 2.24% of its portfolio in Teekay Offshore Partners L.P. for 51,400 shares. Brookfield Asset Management Inc. owns 244.35 million shares or 1.9% of their US portfolio. Moreover, Luminus Management Llc has 0.45% invested in the company for 9.54 million shares. The Texas-based Eagle Global Advisors Llc has invested 0.34% in the stock. Evergreen Capital Management Llc, a Washington-based fund reported 1.47 million shares.

More notable recent Teekay Offshore Partners L.P. (NYSE:TOO) news were published by: Globenewswire.com which released: “Teekay Offshore Partners Announces Appointment of Interim CFO” on June 11, 2018, also Nasdaq.com with their article: “Teekay Offshore Partners Announces Tender Offer for its 6.00% Senior Unsecured Notes Due 2019” published on June 13, 2018, Globenewswire.com published: “Teekay Offshore Partners Announces Proposed Aggregate $500 Million Private Offering of Senior Notes” on June 13, 2018. More interesting news about Teekay Offshore Partners L.P. (NYSE:TOO) were released by: Seekingalpha.com and their article: “Teekay Offshore Partners’ (TOO) CEO Ingvild Sæther on Q1 2018 Results – Earnings Call Transcript” published on May 17, 2018 as well as Seekingalpha.com‘s news article titled: “Offshore Shipping Market Update” with publication date: June 12, 2018.

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