KNOT Offshore Partners LP (NYSE:KNOP) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

A number of other research analysts also recently commented on the company. BidaskClub downgraded KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th.

Shares of KNOT Offshore Partners (NYSE:KNOP) opened at 23.65 on Friday. The stock’s 50 day moving average price is $23.11 and its 200 day moving average price is $22.73. The firm has a market cap of $715.46 million, a price-to-earnings ratio of 10.75 and a beta of 0.78. KNOT Offshore Partners has a 12 month low of $18.23 and a 12 month high of $24.67.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership acquired a new position in shares of KNOT Offshore Partners during the second quarter worth approximately $381,000. Green Square Capital LLC increased its position in shares of KNOT Offshore Partners by 1.8% in the second quarter. Green Square Capital LLC now owns 372,966 shares of the shipping company’s stock worth $8,560,000 after buying an additional 6,554 shares in the last quarter. Royal Bank of Canada increased its position in shares of KNOT Offshore Partners by 4.8% in the second quarter. Royal Bank of Canada now owns 8,775 shares of the shipping company’s stock worth $201,000 after buying an additional 405 shares in the last quarter. California Public Employees Retirement System increased its position in shares of KNOT Offshore Partners by 6.5% in the second quarter. California Public Employees Retirement System now owns 34,500 shares of the shipping company’s stock worth $792,000 after buying an additional 2,100 shares in the last quarter. Finally, Arrow Investment Advisors LLC acquired a new position in shares of KNOT Offshore Partners during the second quarter worth approximately $702,000. 50.14% of the stock is owned by hedge funds and other institutional investors.

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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