Several other brokerages also recently commented on TOO. Zacks Investment Research raised Teekay Corporation from a "sell" rating to a "hold" rating in a report on Thursday. Raymond James Financial, Inc. reaffirmed a "market perform" rating on shares of Teekay Offshore Partners L.P.in a research report on Friday, July 28th. Jefferies maintained the shares of TK in report on Wednesday, July 27 with "Hold" rating.
Among 6 analysts covering Teekay Corporation (NYSE:TK), 2 have Buy rating, 0 Sell and 4 Hold. Zacks Investment Research now has $2.75 target price on the shipping company's stock. More interesting news about Teekay Corporation (NYSE:TK) were released by: Seekingalpha.com and their article: "Can Teekay Corporation Rescue Teekay Offshore Partners" published on July 23, 2017 as well as Seekingalpha.com's news article titled: "Teekay Offshore - Refinancing Risks Appear Overblown" with publication date: July 26, 2017. (NYSE:TOO) traded up 2.73% during midday trading on Tuesday, hitting $2.63. It opened the session with a $178.25 price tag, later ranging from $178.09 to $182.15, the range at which the stock has traded at throughout the day. The company's 50-day moving average is $17.16 and its 200-day moving average is $17.12. The company has market cap of $403.11 million. Creative Planning raised its position in Teekay Offshore Partners L.P.by 20.7% in the second quarter.
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. (NYSE:TGP) last issued its quarterly earnings results on Thursday, August 3rd. The firm had revenue of $244.60 million during the quarter, compared to analysts' expectations of $270 million. During the same quarter in the prior year, the business earned $0.01 EPS. Teekay Offshore Partners L.P. Teekay Offshore Partners L.P.'s revenue was down 14.0% compared to the same quarter previous year. The business's revenue for the quarter was down 14.0% on a year-over-year basis.
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The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Monday, August 7th will be given a $0.01 dividend. This dividend amount will represent a yeild of $2.32. Teekay Corporation's dividend payout ratio is presently -15.38%. It fall, as 44 investors sold HRB shares while 128 reduced holdings. Ronna Sue Cohen boosted its stake in shares of Teekay Offshore Partners L.P.by 0.7% in the first quarter. Geneva Advisors LLC now owns 11,057 shares of the shipping company's stock worth $101,000 after buying an additional 1,057 shares in the last quarter. Global X Management Co. Teekay LNG Partners L.P. The value of the company's investment in Teekay Corporation went from $1,299,000 to $1,030,000 a change of 20.7% since the last quarter. Van ECK Associates Corp acquired a new position in shares of Teekay Offshore Partners L.P. during the first quarter valued at $4,018,000. Russell Investments Group Ltd. acquired a new position in shares of Teekay Corporation during the first quarter worth about $154,000. Parkside Financial Bank & Trust now owns 77,110 shares of the shipping company's stock worth $391,000 after buying an additional 5,275 shares during the period. Bank of America Corp DE now owns 412,008 shares of the shipping company's stock worth $3,770,000 after buying an additional 316,885 shares in the last quarter. The Company's divisions include shuttle tanker segment, FPSO segment, FSO segment, conventional tanker segment, towage segment and UMS segment.