Zacks Investment Research upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “KNOT Offshore Partners LP is engaged in owning, acquiring and operating shuttle tankers, designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. KNOT Offshore Partners LP is based in Aberdeen, the United Kingdom. “

Other equities analysts have also issued reports about the company. BidaskClub lowered KNOT Offshore Partners from a hold rating to a sell rating in a research report on Tuesday, October 3rd. ValuEngine lowered KNOT Offshore Partners from a buy rating to a hold rating in a research report on Wednesday, November 29th.

KNOT Offshore Partners (KNOP) opened at $22.00 on Tuesday. The company has a current ratio of 0.48, a quick ratio of 0.46 and a debt-to-equity ratio of 1.63. KNOT Offshore Partners has a 12-month low of $19.15 and a 12-month high of $24.42. The firm has a market capitalization of $712.73, a P/E ratio of 9.48 and a beta of 0.70.

Large investors have recently modified their holdings of the company. Texas Yale Capital Corp. acquired a new position in shares of KNOT Offshore Partners during the third quarter worth approximately $200,000. Royal Bank of Canada raised its position in shares of KNOT Offshore Partners by 4.8% during the second quarter. Royal Bank of Canada now owns 8,775 shares of the shipping company’s stock worth $201,000 after purchasing an additional 405 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of KNOT Offshore Partners during the second quarter worth approximately $381,000. Arrow Investment Advisors LLC acquired a new position in shares of KNOT Offshore Partners during the second quarter worth approximately $702,000. Finally, California Public Employees Retirement System raised its position in shares of KNOT Offshore Partners by 6.5% during the second quarter. California Public Employees Retirement System now owns 34,500 shares of the shipping company’s stock worth $792,000 after purchasing an additional 2,100 shares during the period. 43.83% of the stock is currently owned by institutional investors.

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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.

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