Invesco Ltd. Lowers Position in KNOT Offshore Partners LP (NYSE:KNOP)

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Invesco Ltd. reduced its stake in KNOT Offshore Partners LP (NYSE:KNOP) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,788,152 shares of the shipping company’s stock after selling 48,873 shares during the quarter. Invesco Ltd. owned approximately 5.47% of KNOT Offshore Partners worth $18,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KNOP. SeaBridge Investment Advisors LLC raised its position in KNOT Offshore Partners by 100.0% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 4,000 shares of the shipping company’s stock valued at $41,000 after buying an additional 2,000 shares during the last quarter. Wiley BROS. Aintree Capital LLC purchased a new stake in shares of KNOT Offshore Partners during the 1st quarter valued at $107,000. AE Wealth Management LLC purchased a new stake in shares of KNOT Offshore Partners during the 1st quarter valued at $148,000. BlackRock Inc. purchased a new stake in shares of KNOT Offshore Partners during the 1st quarter valued at $160,000. Finally, AJO LP purchased a new stake in shares of KNOT Offshore Partners during the 4th quarter valued at $186,000. 31.15% of the stock is owned by institutional investors and hedge funds.

KNOP stock opened at $13.74 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.47 and a current ratio of 0.49. The company has a market capitalization of $449.22 million, a price-to-earnings ratio of 11.26 and a beta of 1.46. KNOT Offshore Partners LP has a fifty-two week low of $8.67 and a fifty-two week high of $20.97. The stock has a fifty day moving average of $14.45 and a 200-day moving average of $15.87.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Wednesday, May 27th. The shipping company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.70). The firm had revenue of $67.82 million for the quarter. KNOT Offshore Partners had a return on equity of 6.49% and a net margin of 14.28%.

Several equities research analysts have recently issued reports on KNOP shares. Barclays reaffirmed a “hold” rating and set a $16.00 target price on shares of KNOT Offshore Partners in a research report on Friday, May 29th. ValuEngine lowered KNOT Offshore Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. KNOT Offshore Partners has an average rating of “Hold” and an average price target of $20.00.

KNOT Offshore Partners Profile

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

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Institutional Ownership by Quarter for KNOT Offshore Partners (NYSE:KNOP)

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