Teekay Offshore Partners L.P. (NYSE:TOO)’s share price shot up 9.8% during trading on Monday . The stock traded as high as $2.49 and last traded at $2.47. 1,359,421 shares were traded during mid-day trading, a decline of 11% from the average session volume of 1,531,839 shares. The stock had previously closed at $2.25.

Several research firms recently commented on TOO. Morgan Stanley upgraded Teekay Offshore Partners from an “underweight” rating to an “equal weight” rating and set a $3.00 target price for the company in a research note on Monday. Zacks Investment Research upgraded Teekay Offshore Partners from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. ValuEngine upgraded Teekay Offshore Partners from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, UBS Group dropped their target price on Teekay Offshore Partners from $3.00 to $2.75 and set a “buy” rating for the company in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Teekay Offshore Partners has an average rating of “Buy” and an average price target of $4.15.

The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $1,012.81, a PE ratio of 30.88, a PEG ratio of 1.11 and a beta of 2.75.

The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, February 2nd were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, February 1st. Teekay Offshore Partners’s dividend payout ratio (DPR) is presently -2.67%.

Hedge funds have recently bought and sold shares of the business. Stockman Wealth Management Inc. purchased a new stake in Teekay Offshore Partners during the fourth quarter valued at about $391,000. GSA Capital Partners LLP purchased a new stake in Teekay Offshore Partners during the third quarter valued at about $118,000. Virtu Financial LLC grew its position in Teekay Offshore Partners by 51.4% during the fourth quarter. Virtu Financial LLC now owns 114,872 shares of the shipping company’s stock valued at $271,000 after acquiring an additional 39,018 shares during the period. Institutional & Family Asset Management LLC purchased a new stake in Teekay Offshore Partners during the third quarter valued at about $279,000. Finally, Brookfield Asset Management Inc. grew its position in Teekay Offshore Partners by 273.9% during the second quarter. Brookfield Asset Management Inc. now owns 175,207 shares of the shipping company’s stock valued at $503,000 after acquiring an additional 128,343 shares during the period. 18.87% of the stock is owned by hedge funds and other institutional investors.

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Teekay Offshore Partners Company Profile

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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