KNOT Offshore Partners (NYSE:KNOP) Downgraded to “Hold” Rating by Zacks Research

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

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

KNOT Offshore Partners Stock Up 0.1%

Shares of KNOT Offshore Partners stock 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. The stock’s 50-day simple moving average is $10.49 and its 200-day simple moving average is $9.20. KNOT Offshore Partners has a 52 week low of $5.29 and a 52 week high of $11.15.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Thursday, December 4th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.32. The firm had revenue of $96.87 million during the quarter, compared to analysts’ expectations 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 EPS for the current year.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of large investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in KNOT Offshore Partners during the 1st quarter valued at about $130,000. Osaic Holdings Inc. boosted its position in shares of KNOT Offshore Partners by 220.3% during the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after buying an additional 11,388 shares during the period. Occudo Quantitative Strategies LP bought a new position in shares of KNOT Offshore Partners during the second quarter valued at approximately $68,000. GSA Capital Partners LLP raised its holdings in shares of 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 buying an additional 4,957 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of KNOT Offshore Partners by 115.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after acquiring an additional 4,836 shares during the last quarter. 26.82% of the stock is owned by hedge funds and other 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.