Zacks Research Downgrades KNOT Offshore Partners (NYSE:KNOP) to Hold

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

Several other research analysts have also issued reports on KNOP. B. Riley Financial lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Fearnley Fonds downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of KNOT Offshore Partners in a research note on Monday, December 8th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

KNOT Offshore Partners Trading Up 0.1%

KNOP opened at $10.39 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.27 and a current ratio of 0.28. KNOT Offshore Partners has a 52 week low of $5.29 and a 52 week high of $11.15. The business has a 50 day moving average of $10.49 and a 200-day moving average of $9.20.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KNOP. FNY Investment Advisers LLC boosted 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 buying an additional 3,340 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings 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 acquiring an additional 4,836 shares during the period. GSA Capital Partners LLP boosted its position in KNOT Offshore Partners by 11.5% in 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 last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of KNOT Offshore Partners during the 2nd quarter valued at about $68,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of KNOT Offshore Partners by 220.3% in 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 during the last quarter. Hedge funds and other institutional investors own 26.82% of the company’s stock.

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.