Teekay Offshore Partners L.P. (NYSE:TOO) traded down 5.2% during mid-day trading on Wednesday . The stock traded as low as $5.58 and last traded at $5.65, with a volume of 412,124 shares trading hands. The stock had previously closed at $5.96.

Several equities research analysts recently issued reports on the company. Wells Fargo & Co. reiterated a “neutral” rating on shares of Teekay Offshore Partners L.P. in a report on Thursday, July 7th. Zacks Investment Research upgraded Teekay Offshore Partners L.P. from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Tuesday, April 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $6.00 price objective on shares of Teekay Offshore Partners L.P. in a report on Tuesday, April 19th. Finally, TheStreet upgraded Teekay Offshore Partners L.P. from a “sell” rating to a “hold” rating in a report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.76.

The firm has a market capitalization of $610.62 million and a price-to-earnings ratio of 14.54. The stock has a 50-day moving average of $5.67 and a 200-day moving average of $5.11.

Teekay Offshore Partners L.P. (NYSE:TOO) last posted its quarterly earnings data on Thursday, May 19th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.18. The business had revenue of $306.70 million for the quarter, compared to analyst estimates of $301.82 million. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts predict that Teekay Offshore Partners L.P. will post $1.67 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 7.72%. The ex-dividend date of this dividend is Wednesday, July 27th.

Several large investors have bought and sold shares of TOO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Teekay Offshore Partners L.P. by 75.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 350,065 shares of the company’s stock valued at $2,268,000 after buying an additional 150,528 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Teekay Offshore Partners L.P. during the fourth quarter valued at $2,992,000. Finally, OppenheimerFunds Inc. raised its position in shares of Teekay Offshore Partners L.P. by 0.6% in the fourth quarter. OppenheimerFunds Inc. now owns 2,391,470 shares of the company’s stock valued at $15,497,000 after buying an additional 13,357 shares during the period.

Teekay Offshore Partners L.P. is a provider of marine transportation, oil production, storage, towage and floating accommodation services to the offshore oil industry focusing on the fast-growing, deep-water offshore oil regions of the North Sea and Brazil. The Company operates shuttle tankers, floating production, storage and off-loading (FPSO) units, floating storage and off-take (FSO) units, and conventional crude oil tankers.

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