KNOT Offshore Partners (NYSE:KNOP) Upgraded at Fearnley Fonds

KNOT Offshore Partners (NYSE:KNOP) was upgraded by equities researchers at Fearnley Fonds to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, StockNews.com raised shares of KNOT Offshore Partners from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th.

KNOT Offshore Partners Stock Performance

Shares of NYSE KNOP opened at $7.54 on Tuesday. KNOT Offshore Partners has a 12-month low of $4.94 and a 12-month high of $9.11. The firm has a 50 day moving average of $5.79 and a 200 day moving average of $6.00. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $258.60 million, a price-to-earnings ratio of -17.53 and a beta of 0.70.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Wednesday, March 19th. The shipping company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.51. The company had revenue of $91.26 million for the quarter, compared to analysts’ expectations of $76.50 million. KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. On average, research analysts anticipate that KNOT Offshore Partners will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC raised its stake in shares of KNOT Offshore Partners by 8.8% in the fourth quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock valued at $756,000 after acquiring an additional 11,200 shares during the period. Virtu Financial LLC purchased a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at $135,000. JPMorgan Chase & Co. boosted its stake in shares of KNOT Offshore Partners by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock valued at $3,030,000 after purchasing an additional 31,792 shares during the period. Millennium Management LLC increased its stake in KNOT Offshore Partners by 123.5% in the 4th quarter. Millennium Management LLC now owns 141,503 shares of the shipping company’s stock worth $771,000 after buying an additional 78,194 shares during the period. Finally, Jane Street Group LLC bought a new stake in KNOT Offshore Partners during the 4th quarter valued at about $184,000. 26.82% of the stock is currently owned by institutional investors.

About KNOT Offshore Partners

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.