KNOT Offshore Partners (NYSE:KNOP) Raised to “Buy” at Wall Street Zen

KNOT Offshore Partners (NYSE:KNOP) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Friday.

Separately, Fearnley Fonds raised KNOT Offshore Partners to a “strong-buy” rating in a report on Tuesday, April 1st.

KNOT Offshore Partners Trading Down 1.6%

Shares of KNOP opened at $6.43 on Friday. The company has a market capitalization of $220.36 million, a P/E ratio of -14.94 and a beta of -0.11. KNOT Offshore Partners has a one year low of $5.28 and a one year high of $9.11. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.42 and a current ratio of 0.44. The stock has a 50-day moving average price of $6.48 and a 200 day moving average price of $6.02.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Tuesday, May 20th. The shipping company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. The firm had revenue of $84.03 million during the quarter, compared to the consensus estimate of $79.74 million. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. Sell-side analysts forecast that KNOT Offshore Partners will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. 683 Capital Management LLC lifted its holdings in KNOT Offshore Partners by 2.5% during the 4th quarter. 683 Capital Management LLC now owns 1,610,000 shares of the shipping company’s stock worth $8,774,000 after buying an additional 39,800 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in KNOT Offshore Partners by 31.9% during the 4th quarter. JPMorgan Chase & Co. now owns 583,545 shares of the shipping company’s stock worth $3,180,000 after buying an additional 141,213 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in KNOT Offshore Partners by 8.0% during the 4th quarter. Two Sigma Advisers LP now owns 300,800 shares of the shipping company’s stock worth $1,639,000 after buying an additional 22,300 shares during the last quarter. Marshall Wace LLP lifted its holdings in KNOT Offshore Partners by 19.0% during the 4th quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company’s stock worth $1,112,000 after buying an additional 32,616 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in KNOT Offshore Partners by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 189,461 shares of the shipping company’s stock worth $1,033,000 after buying an additional 2,418 shares during the last quarter. Institutional investors own 26.82% of the company’s stock.

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.