BidaskClub Upgrades KNOT Offshore Partners LP (KNOP) to “Hold”
KNOT Offshore Partners LP (NYSE:KNOP) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.
Other equities research analysts have also issued research reports about the company. TheStreet lowered KNOT Offshore Partners from a “b-” rating to a “c” rating in a report on Wednesday, April 19th. Zacks Investment Research lowered KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $22.50.
Shares of KNOT Offshore Partners (NYSE:KNOP) traded down 1.29% during midday trading on Friday, reaching $22.95. The company’s stock had a trading volume of 24,698 shares. The stock’s 50-day moving average is $22.96 and its 200-day moving average is $22.59. The company has a market capitalization of $694.31 million, a P/E ratio of 9.91 and a beta of 0.78. KNOT Offshore Partners has a one year low of $18.23 and a one year high of $24.67.
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Large investors have recently made changes to their positions in the stock. California Public Employees Retirement System raised its stake in shares of KNOT Offshore Partners by 1.6% in the first quarter. California Public Employees Retirement System now owns 32,400 shares of the shipping company’s stock worth $755,000 after buying an additional 500 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of KNOT Offshore Partners by 5.4% in the first quarter. Wells Fargo & Company MN now owns 25,845 shares of the shipping company’s stock worth $603,000 after buying an additional 1,320 shares in the last quarter. Naples Global Advisors LLC raised its stake in shares of KNOT Offshore Partners by 55.9% in the second quarter. Naples Global Advisors LLC now owns 15,275 shares of the shipping company’s stock worth $351,000 after buying an additional 5,475 shares in the last quarter. Global X Management Co. LLC acquired a new stake in shares of KNOT Offshore Partners during the second quarter worth $162,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of KNOT Offshore Partners during the first quarter worth $215,000. 50.63% of the stock is currently owned by institutional investors.
KNOT Offshore Partners Company Profile
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.
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