KNOT Offshore Partners (NYSE:KNOP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a hold rating to a buy rating in a report issued on Friday morning.

KNOT Offshore Partners Trading Down 0.7 %

NYSE:KNOP opened at $5.70 on Friday. The firm has a market cap of $195.49 million, a PE ratio of -13.26 and a beta of 0.74. The stock has a fifty day moving average price of $6.21 and a 200 day moving average price of $6.83. KNOT Offshore Partners has a 12-month low of $4.94 and a 12-month high of $9.11. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 1.57.

KNOT Offshore Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were issued a $0.026 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.10 dividend on an annualized basis and a yield of 1.82%. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently -23.26%.

Institutional Investors Weigh In On KNOT Offshore Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its stake in KNOT Offshore Partners by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after acquiring an additional 41,100 shares in the last quarter. Marshall Wace LLP lifted its position in KNOT Offshore Partners by 297.5% in the second quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock valued at $1,023,000 after acquiring an additional 87,283 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in KNOT Offshore Partners in the second quarter valued at $229,000. Institutional investors and hedge funds own 26.82% of the company’s stock.

About KNOT Offshore Partners

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.