KNOT Offshore Partners (NYSE:KNOP – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday, Wall Street Zen reports.
KNOP has been the topic of several other reports. Zacks Research upgraded shares of KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, KNOT Offshore Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.
View Our Latest Stock Analysis on KNOP
KNOT Offshore Partners Price Performance
KNOT Offshore Partners stock opened at $11.37 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.24. The stock’s 50 day moving average is $10.58 and its 200 day moving average is $10.53. KNOT Offshore Partners has a one year low of $7.74 and a one year high of $11.78. The firm has a market cap of $382.71 million, a P/E ratio of 25.84 and a beta of -0.05.
KNOT Offshore Partners (NYSE:KNOP – Get Free Report) last posted its quarterly earnings data on Friday, September 4th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.13. KNOT Offshore Partners had a net margin of 3.90% and a return on equity of 5.72%. The firm had revenue of $96.78 million for the quarter, compared to the consensus estimate of $88.65 million. As a group, research analysts expect that KNOT Offshore Partners will post 0.09 EPS for the current year.
Insider Buying and Selling
In other news, Director Trygve Seglem acquired 1,250,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director owned 1,458,333 shares in the company, valued at approximately $29,166,660. This trade represents a 600.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Institutional Trading of KNOT Offshore Partners
Several hedge funds have recently made changes to their positions in KNOP. Royal Bank of Canada purchased a new stake in KNOT Offshore Partners in the 1st quarter worth about $25,000. Russell Investments Group Ltd. lifted its holdings in KNOT Offshore Partners by 115.0% during 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 during the last quarter. Occudo Quantitative Strategies LP bought a new position in KNOT Offshore Partners during the second quarter worth about $68,000. Osaic Holdings Inc. boosted its position 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 purchasing an additional 11,388 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of KNOT Offshore Partners in the fourth quarter worth about $125,000. 26.82% of the stock is currently 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.
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