Teekay Offshore Part (NYSE:TOO) declared a quarterly dividend on Tuesday, January 22nd. Stockholders of record on Friday, February 1st will be given a dividend of $0.51 per share on Thursday, February 14th. This represents a $2.05 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend is Wednesday, January 30th.

On a related note, analysts at JPMorgan Chase cut their price target on shares of Teekay Offshore Part from $33.50 to $33.00 in a research note to investors on Monday, December 10th. They now have an “overweight” rating on the stock.

Four analysts have rated the stock with a buy rating, and one has given a hold rating to the company. The stock currently has an average rating of “buy” and an average target price of $29.50.

Shares of Teekay Offshore Part (TOO) traded up 0.87% during mid-day trading on Tuesday, hitting $27.83. Teekay Offshore Part (TOO) has a 52 week low of $24.55 and a 52 week high of $30.14. The stock’s 50-day moving average is currently $26.54. The company has a market cap of $2.229 billion and a P/E ratio of 418.03.

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

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