KNOT Offshore Partners (NYSE:KNOP) Stock Rating Upgraded by Fearnley Fonds

KNOT Offshore Partners (NYSE:KNOP) was upgraded by research analysts at Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

A number of other research firms also recently commented on KNOP. Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Thursday, January 22nd. B. Riley Financial upgraded KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Friday, March 20th. Wall Street Zen downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Zacks Research downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.

KNOT Offshore Partners Price Performance

NYSE:KNOP opened at $10.18 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.25 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $346.36 million, a P/E ratio of 14.96 and a beta of -0.10. KNOT Offshore Partners has a 12 month low of $6.06 and a 12 month high of $11.15. The business’s 50-day moving average is $10.28 and its 200 day moving average is $10.02.

Institutional Investors Weigh In On KNOT Offshore Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in KNOT Offshore Partners by 115.0% during 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 purchased a new stake in KNOT Offshore Partners during the second quarter valued at approximately $68,000. Cetera Investment Advisers purchased a new stake in KNOT Offshore Partners during the fourth quarter valued at approximately $125,000. Virtu Financial LLC purchased a new stake in shares of KNOT Offshore Partners in the fourth quarter worth approximately $138,000. Finally, Fifth Lane Capital LP purchased a new stake in shares of KNOT Offshore Partners in the fourth quarter worth approximately $167,000. 26.82% of the stock is currently 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.