KNOT Offshore Partners (NYSE:KNOP) Rating Increased to Buy at StockNews.com

KNOT Offshore Partners (NYSE:KNOP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

KNOT Offshore Partners Trading Down 2.1 %

KNOP stock traded down $0.14 during midday trading on Thursday, hitting $6.61. 41,100 shares of the company’s stock were exchanged, compared to its average volume of 93,214. KNOT Offshore Partners has a one year low of $4.94 and a one year high of $9.11. The stock’s fifty day moving average price is $6.95 and its 200-day moving average price is $6.52. The company has a market cap of $224.87 million, a PE ratio of -8.69 and a beta of 0.75. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings data on Tuesday, September 3rd. The shipping company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.25). KNOT Offshore Partners had a net margin of 0.66% and a return on equity of 2.84%. The company had revenue of $74.42 million during the quarter, compared to the consensus estimate of $69.84 million. During the same period in the prior year, the firm posted $0.27 earnings per share. Research analysts predict that KNOT Offshore Partners will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KNOT Offshore Partners

Institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in KNOT Offshore Partners during the first quarter worth approximately $37,000. Cubist Systematic Strategies LLC bought a new position in shares of KNOT Offshore Partners during the 2nd quarter worth approximately $229,000. Marshall Wace LLP increased its holdings in shares of KNOT Offshore Partners by 297.5% during the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after acquiring an additional 87,283 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in KNOT Offshore Partners by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after acquiring an additional 41,100 shares during the period. 26.82% of the stock is currently owned by institutional investors and hedge funds.

About KNOT Offshore Partners

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.