KNOT Offshore Partners LP (KNOP) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of KNOT Offshore Partners LP (NYSE:KNOP) from a sell rating to a hold rating in a research report report published on Saturday morning.

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. “

Other equities analysts have also issued reports about the company. ValuEngine lowered KNOT Offshore Partners from a strong-buy rating to a buy rating in a research note on Tuesday, September 26th. BidaskClub upgraded KNOT Offshore Partners from a sell rating to a hold rating in a research note on Wednesday, September 27th.

KNOT Offshore Partners (NYSE KNOP) opened at $20.45 on Friday. The firm has a market capitalization of $607.24, a PE ratio of 8.80 and a beta of 0.77. The company has a quick ratio of 0.46, a current ratio of 0.48 and a debt-to-equity ratio of 1.63. KNOT Offshore Partners has a one year low of $19.85 and a one year high of $24.67.

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The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Thursday, November 2nd were paid a $0.52 dividend. The ex-dividend date was Wednesday, November 1st. This represents a $2.08 dividend on an annualized basis and a yield of 10.17%. KNOT Offshore Partners’s dividend payout ratio is currently 87.39%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Texas Yale Capital Corp. bought a new position in KNOT Offshore Partners in the 3rd quarter worth about $200,000. Arrowstreet Capital Limited Partnership bought a new position in KNOT Offshore Partners in the 2nd quarter worth about $381,000. Green Square Capital LLC increased 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 worth $8,560,000 after acquiring an additional 6,554 shares during the last quarter. Royal Bank of Canada increased its position in shares of KNOT Offshore Partners by 4.8% during the 2nd quarter. Royal Bank of Canada now owns 8,775 shares of the shipping company’s stock valued at $201,000 after purchasing an additional 405 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of KNOT Offshore Partners by 6.5% during the 2nd quarter. California Public Employees Retirement System now owns 34,500 shares of the shipping company’s stock valued at $792,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 45.07% of the company’s stock.

About KNOT Offshore Partners

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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