KNOT Offshore Partners (NYSE:KNOP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

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 have also recently commented on KNOP. ValuEngine upgraded KNOT Offshore Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. BidaskClub upgraded KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th.

Shares of KNOT Offshore Partners (KNOP) traded up $0.45 on Friday, reaching $20.05. The company’s stock had a trading volume of 166,400 shares, compared to its average volume of 97,072. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.46 and a current ratio of 0.48. The stock has a market capitalization of $666.72, a PE ratio of 8.52 and a beta of 0.70. KNOT Offshore Partners has a fifty-two week low of $19.15 and a fifty-two week high of $24.67.

Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership bought a new position in KNOT Offshore Partners during the second quarter valued at approximately $381,000. Arrow Investment Advisors LLC bought a new position in KNOT Offshore Partners during the second quarter valued at approximately $702,000. Green Square Capital LLC lifted its stake in shares of 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 purchasing an additional 6,554 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of KNOT Offshore Partners in the 2nd quarter valued at approximately $477,000. Finally, California Public Employees Retirement System lifted its stake in shares of 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 purchasing an additional 2,100 shares during the last quarter. 43.83% of the stock is owned by institutional investors.

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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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