Clearbridge Investments LLC trimmed its holdings in shares of KNOT Offshore Partners (NYSE:KNOP) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,499,962 shares of the shipping company’s stock after selling 14,700 shares during the period. Clearbridge Investments LLC owned about 4.59% of KNOT Offshore Partners worth $31,124,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of KNOP. Royal Bank of Canada increased its stake in shares of KNOT Offshore Partners by 4.8% during the second 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 in the last quarter. California Public Employees Retirement System increased its stake in shares of KNOT Offshore Partners by 6.5% during the second 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 in the last quarter. Citadel Advisors LLC increased its stake in shares of KNOT Offshore Partners by 36.8% during the fourth quarter. Citadel Advisors LLC now owns 14,779 shares of the shipping company’s stock valued at $307,000 after purchasing an additional 3,979 shares in the last quarter. Naples Global Advisors LLC increased its stake in shares of KNOT Offshore Partners by 24.8% during the fourth quarter. Naples Global Advisors LLC now owns 21,125 shares of the shipping company’s stock valued at $438,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Texas Yale Capital Corp. purchased a new stake in shares of KNOT Offshore Partners during the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 45.07% of the company’s stock.
KNOP opened at $19.85 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.44 and a current ratio of 0.46. KNOT Offshore Partners has a 1-year low of $19.15 and a 1-year high of $24.42. The company has a market capitalization of $652.25, a price-to-earnings ratio of 8.78 and a beta of 0.68.
KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The business had revenue of $61.59 million for the quarter, compared to the consensus estimate of $58.69 million. KNOT Offshore Partners had a net margin of 31.05% and a return on equity of 10.92%. equities analysts anticipate that KNOT Offshore Partners will post 2.29 EPS for the current year.
A number of research firms have recently commented on KNOP. Citigroup cut their price target on shares of KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 28th. Zacks Investment Research cut shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Saturday, February 24th. TheStreet upgraded shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a report on Wednesday, February 21st. Finally, ValuEngine cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.00.
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About KNOT Offshore Partners
KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides crude oil loading, transportation, and storage services under time charters and bareboat charters. As of June 30, 2017, it had a fleet of 13 shuttle tankers. KNOT Offshore Partners GP LLC serves as the general partner of the company.
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