Teekay Offshore Partners LP was a big mover last session, as its shares rose almost 18% on the day. The upside was driven by the announcement of a private placement worth $200 million of equity securities. This also led to far more shares changing hands than in a normal session. Friday’s rally reverses the downtrend for the company, as the stock is now down over 7% in the past one-month time frame.

Over the last 30 days, the company witnessed one positive estimate revision and the Zacks Consensus Estimate also moved higher, suggesting solid trading ahead. So make sure to keep an eye on this stock going forward to see if Friday’s jump can turn into more strength down the road.

Teekay Offshore Partners currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.

TEEKAY OFFSHORE Price

TEEKAY OFFSHORE Price | TEEKAY OFFSHORE Quote

A better-ranked stock in the shipping industry is Nordic American Tankers Limited (NAT Quick QuoteNAT - Free Report) , sporting a Zacks Rank #1 (Strong Buy).

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