KNOT Offshore Partners (NYSE:KNOP) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded KNOT Offshore Partners from “hold” to “sell,” although the broader analyst consensus remains “Moderate Buy” with a $14 price target.
• KNOP shares opened at $10.59, while the company’s latest quarterly earnings of $0.08 per share fell short of the $0.17 consensus estimate despite revenue exceeding expectations.
• Director Trygve Seglem purchased 1.25 million shares for $25 million, and institutional investors hold approximately 26.82% of the partnership’s stock.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

KNOP has been the subject of a number of other research reports. Zacks Research raised KNOT Offshore Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Weiss Ratings restated a "hold (c)" rating on shares of KNOT Offshore Partners in a report on Wednesday, July 29th. Finally, Fearnley Fonds upgraded KNOT Offshore Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

KNOT Offshore Partners Stock Down 0.5%

Shares of KNOP opened at $10.59 on Friday. The firm has a market cap of $356.29 million, a PE ratio of 19.60 and a beta of -0.05. The company's fifty day moving average is $10.47 and its two-hundred day moving average is $10.50. KNOT Offshore Partners has a fifty-two week low of $6.90 and a fifty-two week high of $11.78. The company has a quick ratio of 0.24, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.09). The company had revenue of $92.01 million for the quarter, compared to analysts' expectations of $90.35 million. KNOT Offshore Partners had a net margin of 4.92% and a return on equity of 6.36%. Analysts forecast that KNOT Offshore Partners will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Trygve Seglem acquired 1,250,000 shares of KNOT Offshore Partners stock in a transaction on Monday, June 15th. The shares were bought at an average price of $20.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director directly owned 1,458,333 shares in the company, valued at $29,166,660. This trade represents a 600.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KNOP. Royal Bank of Canada purchased a new stake in shares of KNOT Offshore Partners during the first quarter worth about $25,000. Russell Investments Group Ltd. boosted its holdings in KNOT Offshore Partners by 115.0% in the second quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company's stock valued at $58,000 after purchasing an additional 4,836 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in KNOT Offshore Partners in the second quarter valued at about $68,000. Osaic Holdings Inc. boosted its holdings in KNOT Offshore Partners by 220.3% in the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company's stock valued at $104,000 after purchasing an additional 11,388 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in KNOT Offshore Partners during the 4th quarter valued at approximately $125,000. 26.82% of the stock is owned by institutional investors and hedge funds.

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.

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