KNOT Offshore Partners (NYSE:KNOP) Stock Rating Upgraded by Zacks Research

KNOT Offshore Partners (NYSE:KNOP) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Alliance Global Partners reissued a “neutral” rating on shares of KNOT Offshore Partners in a report on Monday, December 8th. Weiss Ratings reissued a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Wednesday, October 8th. Wall Street Zen lowered KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. B. Riley cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Fearnley Fonds cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, KNOT Offshore Partners has an average rating of “Hold”.

KNOT Offshore Partners Trading Up 2.6%

Shares of NYSE KNOP opened at $10.42 on Wednesday. KNOT Offshore Partners has a 12-month low of $5.29 and a 12-month high of $10.99. The company has a market cap of $348.12 million, a price-to-earnings ratio of 6.72 and a beta of -0.14. The company has a current ratio of 0.28, a quick ratio of 0.27 and a debt-to-equity ratio of 1.20. The stock’s 50 day simple moving average is $10.17 and its 200 day simple moving average is $8.66.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Thursday, December 4th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.32. KNOT Offshore Partners had a net margin of 14.69% and a return on equity of 9.00%. The firm had revenue of $96.87 million during the quarter, compared to analyst estimates of $88.12 million. Equities research analysts expect that KNOT Offshore Partners will post 0.12 EPS for the current year.

Institutional Investors Weigh In On KNOT Offshore Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC grew its stake in shares of KNOT Offshore Partners by 2.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 143,420 shares of the shipping company’s stock worth $897,000 after purchasing an additional 3,340 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in KNOT Offshore Partners by 220.3% during the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after buying an additional 11,388 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in KNOT Offshore Partners in the second quarter worth approximately $68,000. Russell Investments Group Ltd. increased its holdings in shares of KNOT Offshore Partners by 115.0% in the second quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock valued at $58,000 after buying an additional 4,836 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of KNOT Offshore Partners during the 1st quarter valued at $130,000. 26.82% of the stock is currently owned by institutional investors.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.