KNOT Offshore Partners (NYSE:KNOP - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.
KNOT Offshore Partners Stock Down 1.0 %
Shares of NYSE:KNOP traded down $0.06 during midday trading on Friday, reaching $5.69. 69,518 shares of the company were exchanged, compared to its average volume of 88,305. The firm has a market cap of $195.00 million, a PE ratio of 113.70 and a beta of 0.74. KNOT Offshore Partners has a fifty-two week low of $4.94 and a fifty-two week high of $9.11. The stock has a fifty day simple moving average of $6.21 and a two-hundred day simple moving average of $6.82. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.
KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.25). The firm had revenue of $74.42 million during the quarter, compared to analyst estimates of $69.84 million. KNOT Offshore Partners had a net margin of 0.66% and a return on equity of 2.84%. During the same period in the prior year, the business earned $0.27 EPS. As a group, sell-side analysts forecast that KNOT Offshore Partners will post 0.13 earnings per share for the current year.
Institutional Investors Weigh In On KNOT Offshore Partners
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in KNOT Offshore Partners in the second quarter valued at $229,000. Marshall Wace LLP raised its holdings in shares of KNOT Offshore Partners by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company's stock valued at $1,023,000 after purchasing an additional 87,283 shares during the period. Finally, Renaissance Technologies LLC lifted 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 purchasing an additional 41,100 shares during the last quarter. 26.82% of the stock is currently owned by institutional investors and hedge funds.
About KNOT Offshore Partners
(
Get Free Report)
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.
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