KNOT Offshore Partners (NYSE:KNOP) Raised to “Buy” at StockNews.com

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

KNOT Offshore Partners Price Performance

Shares of NYSE KNOP opened at $6.76 on Wednesday. The business has a fifty day moving average price of $5.69 and a two-hundred day moving average price of $6.00. The stock has a market capitalization of $231.81 million, a PE ratio of -15.72 and a beta of 0.70. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42. KNOT Offshore Partners has a fifty-two week low of $4.94 and a fifty-two week high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Wednesday, March 19th. The shipping company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.51. The business had revenue of $91.26 million during the quarter, compared to the consensus estimate of $76.50 million. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. As a group, equities analysts predict that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KNOT Offshore Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNOP. JPMorgan Chase & Co. raised its holdings in shares of KNOT Offshore Partners by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock worth $3,030,000 after buying an additional 31,792 shares in the last quarter. FNY Investment Advisers LLC grew its position in KNOT Offshore Partners by 8.8% in the fourth quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock valued at $756,000 after acquiring an additional 11,200 shares during the last quarter. Virtu Financial LLC acquired a new position in KNOT Offshore Partners during the fourth quarter worth about $135,000. Trexquant Investment LP lifted its holdings in shares of KNOT Offshore Partners by 170.4% in the fourth quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company’s stock worth $207,000 after acquiring an additional 23,907 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of KNOT Offshore Partners by 19.0% in the 4th quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company’s stock valued at $1,112,000 after purchasing an additional 32,616 shares in the last quarter. 26.82% of the stock is currently owned by institutional investors.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.