BidaskClub Downgrades KNOT Offshore Partners LP (KNOP) to Sell
KNOT Offshore Partners LP (NYSE:KNOP) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.
A number of other analysts have also weighed in on KNOP. ValuEngine lowered KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research lowered KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.
KNOT Offshore Partners (NYSE KNOP) opened at 23.40 on Tuesday. The firm’s 50-day moving average is $23.28 and its 200-day moving average is $22.91. The stock has a market capitalization of $707.90 million, a P/E ratio of 10.64 and a beta of 0.77. KNOT Offshore Partners has a 12 month low of $18.90 and a 12 month high of $24.67.
ILLEGAL ACTIVITY WARNING: This piece was reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.watchlistnews.com/bidaskclub-downgrades-knot-offshore-partners-lp-knop-to-sell/1608870.html.
Hedge funds have recently added to or reduced their stakes in the business. Naples Global Advisors LLC increased its stake in KNOT Offshore Partners by 55.9% in the second quarter. Naples Global Advisors LLC now owns 15,275 shares of the shipping company’s stock worth $351,000 after purchasing an additional 5,475 shares during the period. Bank of America Corp DE increased its stake in KNOT Offshore Partners by 12.0% in the first quarter. Bank of America Corp DE now owns 420,180 shares of the shipping company’s stock worth $9,790,000 after purchasing an additional 44,885 shares during the period. PNC Financial Services Group Inc. purchased a new stake in KNOT Offshore Partners in the first quarter worth $215,000. Arrow Investment Advisors LLC purchased a new stake in KNOT Offshore Partners in the second quarter worth $702,000. Finally, Ballentine Partners LLC purchased a new stake in KNOT Offshore Partners in the second quarter worth $477,000. Institutional investors and hedge funds own 50.14% of the company’s stock.
KNOT Offshore Partners Company Profile
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.
Receive News & Ratings for KNOT Offshore Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KNOT Offshore Partners LP and related companies with Analyst Ratings Network's FREE daily email newsletter.