Teekay Offshore Partners (TOO) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS
Teekay Offshore Partners (NYSE:TOO) issued its earnings results on Thursday. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09), Morningstar.com reports. The business had revenue of $295.70 million during the quarter, compared to the consensus estimate of $279.56 million. Teekay Offshore Partners had a negative net margin of 28.37% and a positive return on equity of 4.09%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS.
Teekay Offshore Partners (NYSE TOO) traded up $0.02 during trading on Friday, reaching $2.71. 691,314 shares of the company traded hands, compared to its average volume of 1,004,522. Teekay Offshore Partners has a twelve month low of $1.65 and a twelve month high of $5.72. The company has a market cap of $1,103.02, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 1.21 and a beta of 2.75. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.90.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, February 2nd were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, February 1st. Teekay Offshore Partners’s payout ratio is -2.08%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Luminus Management LLC boosted its stake in Teekay Offshore Partners by 58.3% during the 4th quarter. Luminus Management LLC now owns 10,969,207 shares of the shipping company’s stock worth $25,888,000 after acquiring an additional 4,040,663 shares during the last quarter. CI Global Investments Inc. boosted its stake in Teekay Offshore Partners by 72.0% during the 4th quarter. CI Global Investments Inc. now owns 4,300,000 shares of the shipping company’s stock worth $10,148,000 after acquiring an additional 1,800,000 shares during the last quarter. First Manhattan Co. bought a new position in Teekay Offshore Partners during the 4th quarter worth approximately $6,478,000. Evergreen Capital Management LLC boosted its stake in Teekay Offshore Partners by 44.1% during the 3rd quarter. Evergreen Capital Management LLC now owns 1,442,062 shares of the shipping company’s stock worth $3,432,000 after acquiring an additional 441,130 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in Teekay Offshore Partners during the 3rd quarter worth approximately $3,016,000. 18.50% of the stock is currently owned by institutional investors and hedge funds.
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Teekay Offshore Partners Company Profile
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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