KNOT Offshore Partners LP (NYSE:KNOP) has received a consensus rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $20.00.
Several brokerages have recently issued reports on KNOP. Zacks Investment Research upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Friday, February 17th. TheStreet upgraded KNOT Offshore Partners from a “c” rating to a “b-” rating in a research report on Thursday, February 16th.
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Shares of KNOT Offshore Partners (NYSE KNOP) traded up 2.83% during midday trading on Monday, reaching $23.65. 600,236 shares of the company traded hands. The stock has a 50 day moving average price of $22.58 and a 200 day moving average price of $22.47. The firm has a market capitalization of $709.57 million, a PE ratio of 10.82 and a beta of 0.79. KNOT Offshore Partners has a 1-year low of $17.01 and a 1-year high of $24.67.
Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. acquired a new position in KNOT Offshore Partners during the first quarter valued at approximately $215,000. KCG Holdings Inc. acquired a new position in KNOT Offshore Partners during the first quarter valued at approximately $223,000. Naples Global Advisors LLC acquired a new position in KNOT Offshore Partners during the first quarter valued at approximately $228,000. Wells Fargo & Company MN raised its position in KNOT Offshore Partners by 5.4% in the first quarter. Wells Fargo & Company MN now owns 25,845 shares of the shipping company’s stock valued at $603,000 after buying an additional 1,320 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in KNOT Offshore Partners by 1.6% in the first quarter. California Public Employees Retirement System now owns 32,400 shares of the shipping company’s stock valued at $755,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 49.93% of the company’s stock.
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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