KNOT Offshore Partners (KNOP) Rating Increased to Hold at ValuEngine

KNOT Offshore Partners (NYSE:KNOP) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research raised shares of KNOT Offshore Partners from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Saturday, September 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $22.50.

Shares of KNOP stock opened at $21.43 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.50 and a debt-to-equity ratio of 1.58. KNOT Offshore Partners has a 12 month low of $19.15 and a 12 month high of $23.85. The stock has a market cap of $712.08 million, a price-to-earnings ratio of 9.48 and a beta of 0.58.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Tuesday, September 4th. The shipping company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.20. KNOT Offshore Partners had a net margin of 35.76% and a return on equity of 14.64%. The company had revenue of $69.77 million for the quarter, compared to the consensus estimate of $67.77 million. On average, research analysts anticipate that KNOT Offshore Partners will post 2.75 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of KNOP. Cornerstone Wealth Management LLC purchased a new stake in shares of KNOT Offshore Partners in the 2nd quarter valued at approximately $200,000. Wells Fargo & Company MN raised its stake in shares of KNOT Offshore Partners by 31.7% in the 1st quarter. Wells Fargo & Company MN now owns 11,966 shares of the shipping company’s stock valued at $237,000 after acquiring an additional 2,878 shares during the period. Ballentine Partners LLC raised its stake in shares of KNOT Offshore Partners by 14.5% in the 2nd quarter. Ballentine Partners LLC now owns 22,968 shares of the shipping company’s stock valued at $509,000 after acquiring an additional 2,908 shares during the period. Avalon Advisors LLC raised its stake in shares of KNOT Offshore Partners by 87.2% in the 1st quarter. Avalon Advisors LLC now owns 28,414 shares of the shipping company’s stock valued at $563,000 after acquiring an additional 13,236 shares during the period. Finally, Taylor Frigon Capital Management LLC purchased a new stake in shares of KNOT Offshore Partners in the 2nd quarter valued at approximately $813,000. 40.31% of the stock is currently owned by institutional investors.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company loading, transportation and storage of their crude oil services under time charters and bareboat charters. As of April 25, 2018, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

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