Barclays Assumes KNOT Offshore Partners LP to Equal-weight

Brokerage firm Barclays Assumes its rating on KNOT Offshore Partners LP(NYSE:KNOP). The shares have been rated Equal-weight. The rating by Barclays was issued on Apr 12, 2016.

In a different note, On Feb 22, 2016, Barclays said it Maintains its rating on KNOT Offshore Partners LP. In the research note, the firm Raises the price-target to $16.00 per share. The shares have been rated ‘Equalweight’ by the firm.

KNOT Offshore Partners LP (KNOP) shares turned negative on Fridays trading session with the shares closing down -0.2 points or -1.19% at a volume of 53,714. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17. The peak price level was also seen at $17 while the days lowest was $16.5. Finally the shares closed at $16.57. The 52-week high of the shares is $26.49 while the 52-week low is $9.68. According to the latest information available, the market cap of the company is $451 M.

KNOT Offshore Partners LP(KNOP) last announced its earnings results on Feb 18, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $42.54M. Analysts had an estimated revenue of $41.93M. Earnings per share were $1.09. Analysts had estimated an EPS of $0.49.

KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership) owns and operates shuttle tankers under long-term charters. The Partnership’s primary business objective is to increase quarterly distributions per unit over time by growing its business through accretive acquisitions of shuttle tankers and by chartering the vessels pursuant to long-term charters with customers that generate long-term stable cash flows. The Partnership’s eight shuttle tankers include Fortaleza Knutsen Recife Knutsen Bodil Knutsen Windsor Knutsen Carmen Knutsen Hilda Knutsen Torill Knutsen and Dan Cisne. The Partnership has the right to purchase vessels from KNOT in Ingrid Knutsen and Raquel Knutsen. During the fiscal year ended December 31 2014 its customers Transpetro ENI Statoil Repsol BG Group and KNOT accounted for approximately 23% 21% 20% 18% 11% and 7% respectively of its revenues. KNOT Offshore Partners GP LLC is the general partner of the Partnership.

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