Wall Street Zen Downgrades KNOT Offshore Partners (NYSE:KNOP) to Sell

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

A number of other equities analysts have also weighed in on KNOP. Fearnley Fonds raised shares of KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Zacks Research raised KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.00.

KNOT Offshore Partners Stock Performance

Shares of KNOT Offshore Partners stock opened at $10.59 on Friday. The company has a market capitalization of $356.29 million, a PE ratio of 19.60 and a beta of -0.05. KNOT Offshore Partners has a 12 month low of $6.90 and a 12 month high of $11.78. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $10.47 and its 200 day simple moving average is $10.50.

KNOT Offshore Partners (NYSE:KNOP) last posted its 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). The business had revenue of $92.01 million for the quarter, compared to the consensus estimate of $90.35 million. KNOT Offshore Partners had a return on equity of 6.36% and a net margin of 4.92%. On average, research analysts predict that KNOT Offshore Partners will post 0.09 EPS for the current year.

Insider Buying and Selling

In related news, Director Trygve Seglem purchased 1,250,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the director owned 1,458,333 shares in the company, valued at approximately $29,166,660. This represents a 600.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On KNOT Offshore Partners

Several hedge funds have recently bought and sold shares of KNOP. Acadian Asset Management LLC acquired a new position in shares of KNOT Offshore Partners in the first quarter valued at approximately $130,000. Russell Investments Group Ltd. increased its stake in shares of KNOT Offshore Partners by 115.0% during the second quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after purchasing an additional 4,836 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in KNOT Offshore Partners during the 2nd quarter worth approximately $68,000. Osaic Holdings Inc. lifted its holdings 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 worth $104,000 after purchasing an additional 11,388 shares during the last quarter. Finally, ING Groep NV acquired a new stake in KNOT Offshore Partners during the 4th quarter worth approximately $205,000. 26.82% of the stock is currently owned by institutional investors and hedge funds.

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.