KNOT Offshore Partners (NYSE:KNOP) Upgraded by Fearnley Fonds to "Strong-Buy" Rating

Key Points

• Fearnley Fonds upgraded KNOT Offshore Partners (NYSE:KNOP) from "hold" to "strong-buy", while the analyst mix (one Strong Buy, one Buy, three Holds) yields a consensus rating of Moderate Buy and a consensus price target of $14.00.
• The stock opened at $10.18, trades in a 52-week range of $6.06–$11.15, has a market cap of $346.36 million and a PE ratio of 14.96.
• Several institutional investors recently increased or initiated positions, and roughly 26.82% of the company is owned by hedge funds and other institutional investors.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) was upgraded by stock analysts at Fearnley Fonds from a "hold" rating to a "strong-buy" rating in a report released on Friday,Zacks.com reports.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded KNOT Offshore Partners from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of KNOT Offshore Partners in a research report on Thursday, January 22nd. B. Riley Financial upgraded KNOT Offshore Partners from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a research report on Friday, March 20th. Finally, Zacks Research downgraded KNOT Offshore Partners from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 5th. One equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

KNOT Offshore Partners Stock Performance

NYSE:KNOP opened at $10.18 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.26 and a debt-to-equity ratio of 1.07. KNOT Offshore Partners has a fifty-two week low of $6.06 and a fifty-two week high of $11.15. The stock has a market cap of $346.36 million, a PE ratio of 14.96 and a beta of -0.10. The firm's fifty day simple moving average is $10.28 and its 200-day simple moving average is $10.01.

Institutional Trading of KNOT Offshore Partners

Several institutional investors and hedge funds have recently made changes to their positions in KNOP. Russell Investments Group Ltd. lifted its position in shares of 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 acquiring an additional 4,836 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of KNOT Offshore Partners in the second quarter valued at $68,000. Osaic Holdings Inc. lifted its position in shares of 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 acquiring an additional 11,388 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of KNOT Offshore Partners in the fourth quarter valued at $125,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of KNOT Offshore Partners in the first quarter valued at $130,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

KNOT Offshore Partners Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.