The stock of KNOT Offshore Partners LP (NYSE:KNOP) is a huge mover today! The stock decreased 2.97% or $0.62 on October 3, hitting $20.27. About 81,406 shares traded hands or 19.17% up from the average. KNOT Offshore Partners LP (NYSE:KNOP) has risen 24.13% since March 1, 2016 and is uptrending. It has outperformed by 11.91% the S&P500.
The move comes after 7 months negative chart setup for the $556.02 million company. It was reported on Oct, 4 by Barchart.com. We have $19.26 PT which if reached, will make NYSE:KNOP worth $27.80M less.
Analysts await KNOT Offshore Partners LP (NYSE:KNOP) to report earnings on November, 2. They expect $0.42 earnings per share, down 16.00% or $0.08 from last year’s $0.5 per share. KNOP’s profit will be $11.52 million for 12.07 P/E if the $0.42 EPS becomes a reality. After $0.60 actual earnings per share reported by KNOT Offshore Partners LP for the previous quarter, Wall Street now forecasts -30.00% negative EPS growth.
KNOT Offshore Partners LP (NYSE:KNOP) Ratings Coverage
Out of 6 analysts covering KNOT Offshore Partners (NYSE:KNOP), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. KNOT Offshore Partners has been the topic of 11 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The rating was downgraded by Clarkson Platou Securities on Wednesday, October 14 to “Neutral”. Barclays Capital maintained it with “Overweight” rating and $22 target price in Friday, August 14 report. As per Tuesday, August 25, the company rating was initiated by Wells Fargo. The rating was maintained by Barclays Capital with “Equal-Weight” on Wednesday, August 17. RBC Capital Markets maintained it with “Outperform” rating and $19 target price in Monday, February 22 report. The stock of KNOT Offshore Partners LP (NYSE:KNOP) has “Neutral” rating given on Monday, July 11 by Citigroup. RBC Capital Markets maintained KNOT Offshore Partners LP (NYSE:KNOP) rating on Friday, August 14. RBC Capital Markets has “Outperform” rating and $23 price target. Barclays Capital downgraded KNOT Offshore Partners LP (NYSE:KNOP) on Monday, January 11 to “Equal Weight” rating. Citigroup downgraded it to “Neutral” rating and $14 target price in Tuesday, January 12 report.
According to Zacks Investment Research, “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.”
More notable recent KNOT Offshore Partners LP (NYSE:KNOP) news were published by: Businesswire.com which released: “KNOT Offshore Partners LP Announces Extension of Common Unit Purchase Program” on August 29, 2016, also Seekingalpha.com with their article: “KNOT Offshore Partners LP Undeservedly Caught In A Perfect Storm” published on January 29, 2016, Fool.com published: “Here’s Why Hornbeck Offshore Services, Tidewater Inc., and KNOT Offshore …” on January 10, 2016. More interesting news about KNOT Offshore Partners LP (NYSE:KNOP) were released by: Finance.Yahoo.com and their article: “KNOT Offshore Partners (KNOP) Worth a Look: Stock Up 5.5%” published on September 27, 2016 as well as Fool.com‘s news article titled: “3 Reasons Dividend Investors Should Love KNOT Offshore Partners LP” with publication date: December 29, 2015.
KNOP Company Profile
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), incorporated on February 21, 2013, owns, operates and shuttles tankers under long-term charters. The Partnership is formed for the purpose of acquiring ownership interests in over four shuttle tankers owned by Knutsen NYK Offshore Tankers AS (KNOT). It operates through the shuttle tanker market segment. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte S.A. (Transpetro), Repsol Sinopec Brasil, S.A. (Repsol), BG Group Plc (BG Group), ExxonMobil and Eni Trading and Shipping S.p.A. (ENI). The Firm has a fleet of approximately 10 shuttle tankers, including Fortaleza Knutsen, Recife Knutsen, Bodil Knutsen, Windsor Knutsen, Carmen Knutsen, Hilda Knutsen, Torill Knutsen, Dan Cisne, Dan Sabia and Ingrid Knutsen. KNOT Offshore Partners GP LLC is the general partner of the Partnership.
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