Wall Street Zen Upgrades KNOT Offshore Partners (NYSE:KNOP) to “Hold”

KNOT Offshore Partners (NYSE:KNOP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other research firms have also weighed in on KNOP. Zacks Research upgraded shares of KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of KNOT Offshore Partners in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, KNOT Offshore Partners currently has an average rating of “Moderate Buy” and an average target price of $14.00.

KNOT Offshore Partners Trading Down 1.0%

NYSE:KNOP opened at $10.56 on Friday. The company has a fifty day moving average of $10.46 and a 200 day moving average of $10.50. KNOT Offshore Partners has a 52 week low of $6.95 and a 52 week high of $11.78. The company has a quick ratio of 0.24, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $355.45 million, a P/E ratio of 19.56 and a beta of -0.05.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). KNOT Offshore Partners had a net margin of 4.92% and a return on equity of 6.36%. The firm had revenue of $92.01 million for the quarter, compared to analysts’ expectations of $90.35 million. On average, research analysts predict that KNOT Offshore Partners will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Trygve Seglem bought 1,250,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $20.00 per share, with a total value of $25,000,000.00. Following the transaction, the director owned 1,458,333 shares in the company, valued at approximately $29,166,660. This trade represents a 600.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On KNOT Offshore Partners

Large investors have recently modified their holdings of the stock. Royal Bank of Canada bought a new position in KNOT Offshore Partners in the first quarter worth about $25,000. Russell Investments Group Ltd. lifted 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 worth $58,000 after buying an additional 4,836 shares during the period. Occudo Quantitative Strategies LP bought a new stake in KNOT Offshore Partners during the 2nd quarter valued at approximately $68,000. Osaic Holdings Inc. boosted its position in 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 acquiring an additional 11,388 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in KNOT Offshore Partners during the 4th quarter valued at approximately $125,000. 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.