Teekay Offshore Partners (TOO) Stock Price Down 6.6%
Teekay Offshore Partners L.P. (NYSE:TOO) was down 6.6% on Thursday . The stock traded as low as $1.13 and last traded at $1.14. Approximately 509,575 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 509,736 shares. The stock had previously closed at $1.22.
A number of research firms have recently weighed in on TOO. Zacks Investment Research upgraded Teekay Offshore Partners from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a report on Wednesday, November 7th. ValuEngine raised Teekay Offshore Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th.
The company has a debt-to-equity ratio of 2.57, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $467.45 million, a PE ratio of 123.00 and a beta of 2.35.
A number of large investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in Teekay Offshore Partners by 5.4% in the third quarter. FMR LLC now owns 34,492,807 shares of the shipping company’s stock worth $80,713,000 after buying an additional 1,776,005 shares during the last quarter. Luminus Management LLC grew its position in shares of Teekay Offshore Partners by 4.2% in the second quarter. Luminus Management LLC now owns 9,938,496 shares of the shipping company’s stock valued at $26,237,000 after purchasing an additional 400,000 shares in the last quarter. Van ECK A....