KNOT Offshore Partners (NYSE:KNOP) Upgraded at Zacks Research

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

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

KNOT Offshore Partners Trading Up 2.6%

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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in 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 purchasing an additional 4,836 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in KNOT Offshore Partners in the second quarter worth approximately $68,000. Osaic Holdings Inc. grew its stake in KNOT Offshore Partners by 220.3% in the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after acquiring an additional 11,388 shares during the period. Acadian Asset Management LLC bought a new stake in shares of KNOT Offshore Partners during the first quarter valued at approximately $130,000. Finally, GSA Capital Partners LLP raised its position in shares of KNOT Offshore Partners by 11.5% during the third quarter. GSA Capital Partners LLP now owns 48,075 shares of the shipping company’s stock worth $424,000 after purchasing an additional 4,957 shares during the period. 26.82% of the stock is owned by institutional investors.

About KNOT Offshore Partners

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.