Teekay Offshore Partners L.P. (NYSE:TOO) shares dropped 3.6% on Friday . The company traded as low as $5.66 and last traded at $5.68, with a volume of 315,938 shares. The stock had previously closed at $5.89.

TOO has been the topic of a number of recent analyst reports. TheStreet lowered Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. Zacks Investment Research lowered Teekay Offshore Partners L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, May 19th. RBC Capital Markets raised Teekay Offshore Partners L.P. from a “sector perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a research report on Thursday. Morgan Stanley reaffirmed a “hold” rating on shares of Teekay Offshore Partners L.P. in a research report on Tuesday, May 31st. Finally, Royal Bank Of Canada raised Teekay Offshore Partners L.P. from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $5.00 to $8.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $7.32.

The company’s market capitalization is $788.85 million. The stock’s 50 day moving average is $5.50 and its 200 day moving average is $5.25.

Teekay Offshore Partners L.P. (NYSE:TOO) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The business had revenue of $284.50 million for the quarter, compared to analysts’ expectations of $269.61 million. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. Analysts anticipate that Teekay Offshore Partners L.P. will post $1.76 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $0.44 annualized dividend and a yield of 7.67%.

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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