KNOT Offshore Partners (NYSE:KNOP) Hits New 12-Month High at $20.75

KNOT Offshore Partners LP (NYSE:KNOP) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $20.75 and last traded at $20.72, with a volume of 20889 shares changing hands. The stock had previously closed at $20.46.

KNOP has been the topic of several analyst reports. TheStreet upgraded KNOT Offshore Partners from a “d+” rating to a “c” rating in a research report on Tuesday, December 10th. BTIG Research initiated coverage on KNOT Offshore Partners in a research report on Monday, October 21st. They issued a “buy” rating and a $24.00 target price on the stock. Finally, ValuEngine upgraded KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.50.

The company has a current ratio of 0.53, a quick ratio of 0.51 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $661.07 million, a price-to-earnings ratio of 15.09 and a beta of 0.57. The firm has a 50-day moving average of $19.54 and a 200 day moving average of $19.26.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Wednesday, November 20th. The shipping company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.15). KNOT Offshore Partners had a net margin of 15.53% and a return on equity of 6.98%. The business had revenue of $71.01 million during the quarter.

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in shares of KNOT Offshore Partners by 150.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 39,600 shares of the shipping company’s stock worth $756,000 after acquiring an additional 23,800 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of KNOT Offshore Partners by 38.2% in the second quarter. Renaissance Technologies LLC now owns 505,800 shares of the shipping company’s stock valued at $9,656,000 after purchasing an additional 139,700 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of KNOT Offshore Partners by 2,973.3% in the second quarter. Invesco Ltd. now owns 1,842,496 shares of the shipping company’s stock valued at $35,173,000 after purchasing an additional 1,782,545 shares in the last quarter. Morgan Stanley lifted its holdings in shares of KNOT Offshore Partners by 11.3% in the second quarter. Morgan Stanley now owns 349,532 shares of the shipping company’s stock valued at $6,673,000 after purchasing an additional 35,383 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of KNOT Offshore Partners by 28.0% in the third quarter. California Public Employees Retirement System now owns 48,551 shares of the shipping company’s stock valued at $927,000 after purchasing an additional 10,620 shares in the last quarter. 33.58% of the stock is owned by hedge funds and other institutional investors.

KNOT Offshore Partners Company Profile (NYSE:KNOP)

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

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