Tortoise Capital Advisors L.L.C. increased its position in shares of KNOT Offshore Partners LP (NYSE:KNOP) by 1,513.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,857,329 shares of the shipping company’s stock after purchasing an additional 25,192,354 shares during the period. KNOT Offshore Partners makes up 3.5% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 13th largest holding. Tortoise Capital Advisors L.L.C. owned about 82.16% of KNOT Offshore Partners worth $568,569,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. AJO LP purchased a new stake in KNOT Offshore Partners during the fourth quarter worth $186,000. Koshinski Asset Management Inc. acquired a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at about $206,000. Cubist Systematic Strategies LLC acquired a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at about $208,000. Stifel Financial Corp increased its position in shares of KNOT Offshore Partners by 22.9% during the fourth quarter. Stifel Financial Corp now owns 13,428 shares of the shipping company’s stock valued at $268,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Arrow Investment Advisors LLC increased its position in shares of KNOT Offshore Partners by 3.0% during the fourth quarter. Arrow Investment Advisors LLC now owns 23,350 shares of the shipping company’s stock valued at $463,000 after acquiring an additional 686 shares during the last quarter. 37.11% of the stock is owned by hedge funds and other institutional investors.
KNOT Offshore Partners stock traded down $0.01 during trading on Thursday, reaching $10.58. The stock had a trading volume of 388,400 shares, compared to its average volume of 199,186. KNOT Offshore Partners LP has a 52-week low of $8.67 and a 52-week high of $20.97. The business has a 50 day moving average price of $15.54 and a 200 day moving average price of $18.46. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 1.47. The stock has a market cap of $344.06 million, a PE ratio of 5.86 and a beta of 0.67.
KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Wednesday, March 11th. The shipping company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.21. KNOT Offshore Partners had a net margin of 20.86% and a return on equity of 9.43%. The company had revenue of $70.08 million during the quarter.
A number of equities research analysts have weighed in on KNOP shares. ValuEngine upgraded shares of KNOT Offshore Partners from a “strong sell” rating to a “sell” rating in a research report on Monday, March 9th. TheStreet raised shares of KNOT Offshore Partners from a “d+” rating to a “c” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.50.
KNOT Offshore Partners Profile
KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.
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