ValuEngine Downgrades Teekay Offshore Partners (NYSE:TOO) to Sell

Teekay Offshore Partners (NYSE:TOO) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, ValuEngine reports.

Shares of NYSE TOO remained flat at $$1.54 during midday trading on Friday. 574,113 shares of the stock were exchanged, compared to its average volume of 630,099. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.52. Teekay Offshore Partners has a 52 week low of $1.03 and a 52 week high of $1.98. The stock’s fifty day moving average price is $1.45 and its 200 day moving average price is $1.27. The firm has a market cap of $631.89 million, a P/E ratio of 5.12 and a beta of 2.43.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC raised its position in shares of Teekay Offshore Partners by 44.3% in the second quarter. Cubist Systematic Strategies LLC now owns 43,397 shares of the shipping company’s stock valued at $55,000 after buying an additional 13,328 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Teekay Offshore Partners in the second quarter valued at approximately $25,000. Acadian Asset Management LLC raised its position in Teekay Offshore Partners by 44.0% during the second quarter. Acadian Asset Management LLC now owns 162,139 shares of the shipping company’s stock valued at $205,000 after purchasing an ad....

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