NYSE:TOO', 'Teekay Offshore Partners L.P.', 'http://weeklyregister.com/weekly-register-logo.png');

Teekay Offshore Partners L.P. (TOO) Can’t Be Less Risky. The Stock Formed a Bullish Descending Triangle

December 8, 2017 - By reb123z

Investors sentiment decreased to 0.69 in Q2 2017. Its down 0.59, from 1.28 in 2017Q1. It dived, as 20 investors sold Teekay Offshore Partners L.P. shares while 19 reduced holdings. 7 funds opened positions while 20 raised stakes. 74.27 million shares or 5.35% less from 78.47 million shares in 2017Q1 were reported.
Magnetar Ltd Limited Liability Company accumulated 13.91 million shares or 0.71% of the stock. Benjamin F Edwards holds 3,609 shares or 0% of its portfolio. California-based Wells Fargo Company Mn has invested 0% in Teekay Offshore Partners L.P. (NYSE:TOO). Advisory Rech Incorporated holds 18.38M shares. Stratos Wealth Prns Limited accumulated 0% or 11,078 shares. Brown Brothers Harriman And has 0% invested in Teekay Offshore Partners L.P. (NYSE:TOO) for 2,500 shares. Creative Planning owns 36,188 shares. Guggenheim Ltd Llc stated it has 782,702 shares. Obermeyer Wood Invest Counsel Lllp stated it has 0% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO). Reilly Financial Advsr Ltd reported 250 shares. Peak6 Invs Limited Partnership holds 27,616 shares. Credit Suisse Ag holds 0% in Teekay Offshore Partners L.P. (NYSE:TOO) or 20,166 shares. Exane Derivatives holds 0% or 12 shares. Moreover, Evergreen Management Llc has 0.46% invested in Teekay Offshore Partners L.P. (NYSE:TOO) for 1.00M shares. Barnett & stated it has 1,600 shares or 0% of all its holdings.

The stock of Teekay Offshore Partners L.P. (TOO) formed a descending triangle with $2.34 target or 5.00 % above today’s $2.23 share price. The 7 months triangle pattern indicates low risk for the $938.93M company. If the $2.34 price target is reached, the company will be worth $46.95M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.90% or $0.02 during the last trading session, reaching $2.23. About 653,064 shares traded. Teekay Offshore Partners L.P. (NYSE:TOO) has declined 43.83% since December 8, 2016 and is downtrending. It has underperformed by 60.53% the S&P500.

Analysts await Teekay Offshore Partners L.P. (NYSE:TOO) to report earnings on February, 22. They expect $0.19 earnings per share, up 733.33 % or $0.22 from last year’s $-0.03 per share. TOO’s profit will be $80.00M for 2.93 P/E if the $0.19 EPS becomes a reality. After $0.02 actual earnings per share reported by Teekay Offshore Partners L.P. for the previous quarter, Wall Street now forecasts 850.00 % EPS growth.

Teekay Offshore Partners L.P. (NYSE:TOO) Ratings Coverage

Among 9 analysts covering Teekay Offshore (NYSE:TOO), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. Teekay Offshore had 16 analyst reports since August 4, 2015 according to SRatingsIntel. On Wednesday, July 26 the stock rating was upgraded by Citigroup to “Buy”. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) earned “Sector Perform” rating by RBC Capital Markets on Thursday, August 13. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) has “Buy” rating given on Monday, June 20 by UBS. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) earned “Outperform” rating by Wells Fargo on Thursday, September 14. Seaport Global Securities downgraded the shares of TOO in report on Thursday, December 17 to “Neutral” rating. The rating was downgraded by Citigroup to “Neutral” on Friday, August 7. The stock has “Sector Perform” rating by RBC Capital Markets on Thursday, December 17. On Thursday, August 18 the stock rating was upgraded by RBC Capital Markets to “Outperform”. On Wednesday, November 15 the stock rating was maintained by UBS with “Buy”. Morgan Stanley initiated Teekay Offshore Partners L.P. (NYSE:TOO) rating on Tuesday, April 19. Morgan Stanley has “Equal-Weight” rating and $6 target.

More notable recent Teekay Offshore Partners L.P. (NYSE:TOO) news were published by: Streetinsider.com which released: “Teekay Offshore Partners LP (TOO) PT Lowered to $2.75 at UBS” on November 15, 2017, also Seekingalpha.com with their article: “We Never Knew It Was This Bad At Teekay Offshore” published on November 13, 2017, Nasdaq.com published: “Teekay Offshore Partners Places Order for Two Additional Shuttle Tankers” on November 28, 2017. More interesting news about Teekay Offshore Partners L.P. (NYSE:TOO) were released by: Globenewswire.com and their article: “Teekay Offshore Partners Reports Third Quarter 2017 Results” published on November 09, 2017 as well as Seekingalpha.com‘s news article titled: “Teekay Offshore Partners: Be Prepared For Volatility” with publication date: July 08, 2017.

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