Wall Street Zen Downgrades KNOT Offshore Partners (NYSE:KNOP) to Hold

KNOT Offshore Partners (NYSE:KNOP) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other research analysts have also recently issued reports on the stock. Alliance Global Partners reissued a “neutral” rating on shares of KNOT Offshore Partners in a report on Monday, December 8th. B. Riley Financial raised shares of KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Friday, March 20th. Zacks Research downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

KNOT Offshore Partners Price Performance

Shares of NYSE:KNOP opened at $10.29 on Friday. KNOT Offshore Partners has a twelve month low of $5.45 and a twelve month high of $11.15. The company has a current ratio of 0.26, a quick ratio of 0.27 and a debt-to-equity ratio of 1.07. The company has a market cap of $350.41 million, a PE ratio of 15.14 and a beta of -0.12. The company’s 50 day moving average is $10.40 and its 200 day moving average is $9.92.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of hedge funds have recently bought and sold shares of KNOP. Russell Investments Group Ltd. grew its holdings in KNOT Offshore Partners by 115.0% in 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 period. Occudo Quantitative Strategies LP acquired a new position in shares of KNOT Offshore Partners during the 2nd quarter worth approximately $68,000. Osaic Holdings Inc. lifted its position in shares of KNOT Offshore Partners by 220.3% during the 2nd 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 in the last quarter. Cetera Investment Advisers purchased a new position in shares of KNOT Offshore Partners during the 4th quarter valued at approximately $125,000. Finally, Acadian Asset Management LLC acquired a new stake in KNOT Offshore Partners in the 1st quarter valued at $130,000. Hedge funds and other institutional investors own 26.82% of the company’s stock.

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.