Shares of Teekay Offshore Partners L.P. (NYSE:TOO) dropped 2.5% during trading on Friday . The company traded as low as $5.07 and last traded at $5.08, with a volume of 428,435 shares changing hands. The stock had previously closed at $5.21.

TOO has been the subject of a number of research reports. Wells Fargo & Co. reiterated a “neutral” rating on shares of Teekay Offshore Partners L.P. in a research 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 $6.00 price objective for the company in a research report on Thursday, August 4th. TheStreet cut Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $6.00 price objective on shares of Teekay Offshore Partners L.P. in a research report on Tuesday, April 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Teekay Offshore Partners L.P. presently has an average rating of “Hold” and a consensus price target of $7.65.

The company’s market capitalization is $699.52 million. The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $5.21.

Teekay Offshore Partners L.P. (NYSE:TOO) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.02. The firm earned $284.50 million during the quarter, compared to analysts’ expectations of $269.61 million. The firm’s revenue was down 8.6% on a year-over-year basis. On average, equities analysts expect that Teekay Offshore Partners L.P. will post $1.76 EPS 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 given a $0.11 dividend. The ex-dividend date is Wednesday, July 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 8.64%.

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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