KNOT Offshore Partners LP (NYSE:KNOP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

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 research analysts have also issued research reports about the stock. ValuEngine lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 26th. BidaskClub raised shares of KNOT Offshore Partners from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th.

Shares of KNOT Offshore Partners (KNOP) opened at $20.25 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.48 and a debt-to-equity ratio of 1.63. KNOT Offshore Partners has a fifty-two week low of $19.85 and a fifty-two week high of $24.67. The firm has a market cap of $604.27, a PE ratio of 8.65 and a beta of 0.77.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Texas Yale Capital Corp. acquired a new position in KNOT Offshore Partners during the 3rd quarter worth about $200,000. Arrowstreet Capital Limited Partnership acquired a new position in KNOT Offshore Partners during the 2nd quarter worth about $381,000. Green Square Capital LLC lifted its position in KNOT Offshore Partners by 1.8% during the 2nd 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 lifted its position in KNOT Offshore Partners by 4.8% during the 2nd 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. Finally, California Public Employees Retirement System lifted its position in KNOT Offshore Partners by 6.5% during the 2nd 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. Institutional investors and hedge funds own 49.78% of the company’s stock.

About KNOT Offshore Partners

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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