Equities research analysts at JPMorgan Chase lowered their price target on shares of Teekay Offshore Part (NYSE: TOO) from $33.00 to $32.50 in a research note issued to investors on Wednesday. The firm currently has an “overweight” rating on the stock.

The analysts wrote, “Despite a modest Q4 DCF beat, we are trimming our DPU estimates and PT to account for a reduced tanker vessel count, chiefly on the back of tanker disposals (conventional) and conversions (shuttle) – a long-term positive despite a near-term reduction of DCF. Our lower DPU estimate is now in-line with consensus and consistent with mgmt’s intent to lift 2013 by mid-single digit cents (JPMe +$0.05/unit or +2% vs. prior +5%; JPMe 3.5% y/y in 2014). We reiterate our Overweight recommendation with firm backing for a c.8% yield and c.15% upside potential implied by our revised PT of $32.50 (-2%).”

Separately, analysts at Raymond James downgraded shares of Teekay Offshore Part from a “strong-buy” rating to an “outperform” rating in a research note to investors on Wednesday, January 30th. They now have a $30.00 price target on the stock.

Shares of Teekay Offshore Part traded down 2.13% during mid-day trading on Wednesday, hitting $28.03. Teekay Offshore Part has a one year low of $24.55 and a one year high of $30.14. The stock’s 50-day moving average is currently $27.89. The company has a market cap of $2.245 billion and a P/E ratio of 17.18.

Teekay Offshore Partners L.P. (Teekay Offshore) is an international provider of marine transportation and storage services to the offshore oil industry.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.