KNOT Offshore Partners (KNOP) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of KNOT Offshore Partners (NYSE:KNOP) from a hold rating to a sell rating in a research note released on Thursday.

According to Zacks, “KNOT Offshore Partners LP is engaged in owning, acquiring and operating shuttle tankers, designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. KNOT Offshore Partners LP is based in Aberdeen, the United Kingdom. “

A number of other brokerages also recently weighed in on KNOP. BidaskClub downgraded shares of KNOT Offshore Partners from a hold rating to a sell rating in a report on Tuesday, October 3rd. ValuEngine downgraded shares of KNOT Offshore Partners from a strong-buy rating to a buy rating in a report on Tuesday, September 26th.

Shares of KNOT Offshore Partners (NYSE KNOP) traded up $0.25 during trading hours on Thursday, hitting $20.40. 119,300 shares of the company were exchanged, compared to its average volume of 100,459. The company has a quick ratio of 0.46, a current ratio of 0.48 and a debt-to-equity ratio of 1.63. The stock has a market cap of $658.79, a P/E ratio of 8.76 and a beta of 0.70. KNOT Offshore Partners has a 52 week low of $19.15 and a 52 week high of $24.67.

Large investors have recently modified their holdings of the stock. First Trust Advisors LP bought a new stake in KNOT Offshore Partners in the 2nd quarter valued at about $11,221,000. Green Square Capital LLC raised its stake in KNOT Offshore Partners by 1.8% in the 2nd quarter. Green Square Capital LLC now owns 372,966 shares of the shipping company’s stock valued at $8,560,000 after acquiring an additional 6,554 shares during the period. AJO LP raised its stake in KNOT Offshore Partners by 78.4% in the 2nd quarter. AJO LP now owns 53,738 shares of the shipping company’s stock valued at $1,233,000 after acquiring an additional 23,608 shares during the period. California Public Employees Retirement System raised its stake in KNOT Offshore Partners by 6.5% in the 2nd quarter. California Public Employees Retirement System now owns 34,500 shares of the shipping company’s stock valued at $792,000 after acquiring an additional 2,100 shares during the period. Finally, Arrow Investment Advisors LLC bought a new stake in KNOT Offshore Partners in the 2nd quarter valued at about $702,000. 43.83% of the stock is currently owned by institutional investors.

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KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.

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