Analysts expect that Teekay Offshore Partners L.P. (NYSE:TOO) will announce sales of $383.35 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Teekay Offshore Partners’ earnings, with the lowest sales estimate coming in at $382.20 million and the highest estimate coming in at $384.50 million. Teekay Offshore Partners reported sales of $266.72 million during the same quarter last year, which indicates a positive year-over-year growth rate of 43.7%. The business is expected to report its next quarterly earnings report on Thursday, February 28th.

On average, analysts expect that Teekay Offshore Partners will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $1.23 billion to $1.24 billion. For the next year, analysts expect that the business will report sales of $1.11 billion, with estimates ranging from $1.00 billion to $1.22 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Teekay Offshore Partners.

Several equities research analysts recently commented on TOO shares. ValuEngine upgraded shares of Teekay Offshore Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. Zacks Investment Research upgraded shares of Teekay Offshore Partners from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Wednesday, November 7th. Finally, Wells Fargo & Co lowered shares of Teekay Offshore Partners from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 10th.

NYSE:TOO traded up $0.04 during midday trading on Wednesday, hitting $1.40. 168,198 shares of the company were exchanged, compared to its average volume of 419,160. Teekay Offshore Partners has a fifty-two week low of $1.13 and a fifty-two week high of $3.12. 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 firm has a market capitalization of $574.06 million, a P/E ratio of 140.00 and a beta of 2.37.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Teekay Offshore Partners by 44.8% in the third quarter. JPMorgan Chase & Co. now owns 647,608 shares of the shipping company’s stock valued at $1,515,000 after purchasing an additional 200,315 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Teekay Offshore Partners by 27.1% in the third quarter. GSA Capital Partners LLP now owns 177,128 shares of the shipping company’s stock valued at $414,000 after acquiring an additional 37,734 shares in the last quarter. FMR LLC boosted its holdings in shares of Teekay Offshore Partners by 5.4% in the third quarter. FMR LLC now owns 34,492,807 shares of the shipping company’s stock valued at $80,713,000 after acquiring an additional 1,776,005 shares in the last quarter. RR Advisors LLC boosted its holdings in shares of Teekay Offshore Partners by 30.3% in the third quarter. RR Advisors LLC now owns 1,075,000 shares of the shipping company’s stock valued at $2,516,000 after acquiring an additional 250,000 shares in the last quarter. Finally, TCW Group Inc. purchased a new stake in shares of Teekay Offshore Partners in the third quarter valued at about $2,791,000. Institutional investors own 75.99% of the company’s stock.

About Teekay Offshore Partners

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage; and Conventional Tanker.

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