KNOT Offshore Partners (NYSE:KNOP) Downgraded to Hold Rating by Wall Street Zen

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

Separately, Fearnley Fonds raised KNOT Offshore Partners to a “strong-buy” rating in a research note on Tuesday, April 1st.

KNOT Offshore Partners Trading Down 3.1%

NYSE:KNOP opened at $6.28 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42. KNOT Offshore Partners has a fifty-two week low of $5.28 and a fifty-two week high of $9.11. The stock’s 50-day moving average is $6.51 and its two-hundred day moving average is $6.01. The stock has a market cap of $215.32 million, a PE ratio of -14.60 and a beta of -0.08.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Tuesday, May 20th. The shipping company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.08. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. The company had revenue of $84.03 million for the quarter, compared to analysts’ expectations of $79.74 million. As a group, equities research analysts forecast that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

Institutional Trading of KNOT Offshore Partners

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in KNOT Offshore Partners in the fourth quarter valued at approximately $135,000. JPMorgan Chase & Co. lifted its stake in KNOT Offshore Partners by 31.9% in the fourth quarter. JPMorgan Chase & Co. now owns 583,545 shares of the shipping company’s stock valued at $3,180,000 after acquiring an additional 141,213 shares during the last quarter. 683 Capital Management LLC lifted its stake in KNOT Offshore Partners by 2.5% in the fourth quarter. 683 Capital Management LLC now owns 1,610,000 shares of the shipping company’s stock valued at $8,774,000 after acquiring an additional 39,800 shares during the last quarter. Trexquant Investment LP lifted its stake in KNOT Offshore Partners by 170.4% in the fourth quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company’s stock valued at $207,000 after acquiring an additional 23,907 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in KNOT Offshore Partners by 15.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company’s stock valued at $74,000 after acquiring an additional 1,865 shares during the last quarter. 26.82% of the stock is currently owned by institutional investors and hedge funds.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.