StockNews.com started coverage on shares of KNOT Offshore Partners (NYSE:KNOP – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the shipping company’s stock.
KNOP has been the topic of a number of other reports. Alliance Global Partners raised shares of KNOT Offshore Partners from a sell rating to a neutral rating in a report on Wednesday, February 1st. B. Riley dropped their target price on shares of KNOT Offshore Partners from $22.00 to $15.00 in a report on Friday, January 6th.
KNOT Offshore Partners Stock Down 2.8 %
NYSE KNOP traded down $0.16 during trading hours on Thursday, reaching $5.57. 353,347 shares of the company traded hands, compared to its average volume of 413,480. The stock has a market capitalization of $189.16 million, a PE ratio of 3.22 and a beta of 0.85. KNOT Offshore Partners has a 12 month low of $5.37 and a 12 month high of $18.85. The company has a 50 day moving average of $6.41 and a two-hundred day moving average of $10.89. The company has a current ratio of 0.22, a quick ratio of 0.21 and a debt-to-equity ratio of 1.21.
KNOT Offshore Partners Cuts Dividend
Institutional Trading of KNOT Offshore Partners
A number of large investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of KNOT Offshore Partners in the 4th quarter worth about $285,000. Legal & General Group Plc acquired a new stake in shares of KNOT Offshore Partners in the 4th quarter worth about $163,000. Millennium Management LLC acquired a new stake in shares of KNOT Offshore Partners in the 4th quarter worth about $2,143,000. Morgan Stanley increased its holdings in shares of KNOT Offshore Partners by 116.0% in the 4th quarter. Morgan Stanley now owns 119,062 shares of the shipping company’s stock worth $1,147,000 after acquiring an additional 63,950 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of KNOT Offshore Partners by 275.7% in the 4th quarter. Bank of America Corp DE now owns 48,816 shares of the shipping company’s stock worth $470,000 after acquiring an additional 35,824 shares during the period. Institutional investors and hedge funds own 15.93% of the company’s stock.
About KNOT Offshore Partners
KNOT Offshore Partners LP is engaged in the operation and acquisition of shuttle tankers under long-term charters. Its fleet consists of sixteen shuttle tankers, which are vessels designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries.
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