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Teekay Offshore Partners L.p. (TOO) [hlAlert]

Neutral TOO

Teekay Offshore Partners L.p. (TOO) rated Neutral by Citigroup

Posted on: Friday,  Aug 7, 2015  12:25 PM ET by Citigroup

Teekay Offshore Partners
L.p. (NYSE: TOO) rated Neutral by Citigroup.

Teekay Offshore Partners L.P. is an international provider of marine transportation and storage services to the offshore oil industry. The Company was formed as a Marshall Islands limited partnership by Teekay Corporation, a provider of marine services to the global oil and natural gas industries, to further develop its operations in the offshore market. As of June 1, 2009, Teekay Corporation, which owns and controls its general partner, owned a 47.99% limited partner interest in the Company. As of June 1, 2009, the Company?s fleet consisted of Shuttle Tankers, Conventional Tankers and floating storage and offtake (FSO) Units. The Company owns a 50.99% interest in Teekay Offshore Operating L.P. (OPCO) and controls its general partner; Teekay Corporation owns a 49% interest in OPCO. OPCO owns and operates a fleet of shuttle tankers, in addition to FSO units and double-hull conventional oil tankers.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
8/7/2015 12:25 PM Hold
as of 1/1/0001
1 Week   
1 Month   
3 Months   
1 YTD   

(*) Stock Price at the time of the recommendation.
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