KNOT Offshore Partners (NYSE:KNOP – Get Free Report) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.
Several other research firms also recently issued reports on KNOP. Zacks Research raised shares of KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, KNOT Offshore Partners currently has an average rating of “Moderate Buy” and an average price target of $14.00.
View Our Latest Research Report on KNOP
KNOT Offshore Partners Stock Down 0.2%
KNOT Offshore Partners (NYSE:KNOP – Get Free Report) last posted its earnings results on Friday, September 4th. The shipping company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.13. The business had revenue of $96.78 million for the quarter, compared to analysts’ expectations of $88.65 million. KNOT Offshore Partners had a net margin of 3.90% and a return on equity of 5.73%. As a group, analysts forecast that KNOT Offshore Partners will post 0.09 earnings per share for the current fiscal year.
Insider Activity at KNOT Offshore Partners
In other news, Director Trygve Seglem purchased 1,250,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director owned 1,458,333 shares of the company’s stock, valued at approximately $29,166,660. This trade represents a 600.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Institutional Trading of KNOT Offshore Partners
Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in shares of KNOT Offshore Partners by 8.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company’s stock worth $13,461,000 after acquiring an additional 108,400 shares in the last quarter. American Beacon Advisors Inc. raised its position in shares of KNOT Offshore Partners by 71.8% during the 2nd quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company’s stock valued at $8,638,000 after acquiring an additional 361,659 shares in the last quarter. Millennium Management LLC lifted its stake in KNOT Offshore Partners by 56.5% during the fourth quarter. Millennium Management LLC now owns 145,483 shares of the shipping company’s stock worth $1,506,000 after purchasing an additional 52,538 shares during the last quarter. Alpine Global Management LLC bought a new position in KNOT Offshore Partners during the fourth quarter worth $1,294,000. Finally, Janney Montgomery Scott LLC acquired a new position in KNOT Offshore Partners in the first quarter worth $643,000. Institutional investors and hedge funds own 26.82% of the company’s stock.
About KNOT Offshore Partners
KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.
The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.
Read More
- Five stocks we like better than KNOT Offshore Partners
- 3 Under-the-Radar Defense Stocks With Record Backlogs
- This Korea ETF Has Soared, But the Rally May Not Be Over
- Why Guidewire’s Post-Earnings Plunge May Not Last
- Ride-Share Reckoning: Tesla Drives Into Uber’s Lane
Receive News & Ratings for KNOT Offshore Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KNOT Offshore Partners and related companies with MarketBeat.com's FREE daily email newsletter.
