Teekay Offshore Partners (NYSE:TOO) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat.com reports. The firm presently has a $3.00 target price on the shipping company’s stock. Morgan Stanley’s target price points to a potential upside of 19.52% from the stock’s current price.

A number of other analysts have also commented on the company. Zacks Investment Research lowered Teekay Offshore Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 15th. ValuEngine raised Teekay Offshore Partners from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, UBS Group reduced their target price on Teekay Offshore Partners from $3.00 to $2.75 and set a “buy” rating for the company in a report on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $4.15.

Shares of Teekay Offshore Partners (NYSE:TOO) opened at $2.51 on Monday. The company has a market capitalization of $1,030.00, a price-to-earnings ratio of -1.79, a price-to-earnings-growth ratio of 1.01 and a beta of 2.75. Teekay Offshore Partners has a fifty-two week low of $1.65 and a fifty-two week high of $6.16. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.90.

Several hedge funds have recently added to or reduced their stakes in the company. Stockman Wealth Management Inc. purchased a new position in shares of Teekay Offshore Partners in the 4th quarter worth $391,000. Virtu Financial LLC boosted its stake in shares of Teekay Offshore Partners by 51.4% in the 4th quarter. Virtu Financial LLC now owns 114,872 shares of the shipping company’s stock worth $271,000 after buying an additional 39,018 shares during the last quarter. Aquamarine Capital Management LLC purchased a new position in shares of Teekay Offshore Partners in the 4th quarter worth $2,360,000. CI Global Investments Inc. boosted its stake in shares of Teekay Offshore Partners by 72.0% in the 4th quarter. CI Global Investments Inc. now owns 4,300,000 shares of the shipping company’s stock worth $10,148,000 after buying an additional 1,800,000 shares during the last quarter. Finally, First Manhattan Co. purchased a new position in shares of Teekay Offshore Partners in the 4th quarter worth $6,478,000. Hedge funds and other institutional investors own 18.87% of the company’s stock.

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About Teekay Offshore Partners

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.

Analyst Recommendations for Teekay Offshore Partners (NYSE:TOO)

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