KNOT Offshore Partners (NYSE:KNOP) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of KNOT Offshore Partners (NYSE:KNOP) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

KNOT Offshore Partners Stock Performance

Shares of KNOP stock opened at $7.00 on Wednesday. The stock’s fifty day simple moving average is $7.41 and its 200-day simple moving average is $6.33. The company has a market capitalization of $238.32 million, a price-to-earnings ratio of -9.21 and a beta of 0.75. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.57. KNOT Offshore Partners has a 1-year low of $4.94 and a 1-year high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.25). The business had revenue of $74.42 million during the quarter, compared to analyst estimates of $69.84 million. KNOT Offshore Partners had a negative net margin of 8.64% and a positive return on equity of 4.57%. During the same quarter in the prior year, the company earned $0.27 EPS. On average, sell-side analysts predict that KNOT Offshore Partners will post -0.07 earnings per share for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Monday, July 29th were given a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Monday, July 29th. KNOT Offshore Partners’s payout ratio is currently -13.16%.

Institutional Investors Weigh In On KNOT Offshore Partners

Several institutional investors have recently made changes to their positions in the company. ORG Partners LLC bought a new position in KNOT Offshore Partners during the first quarter valued at approximately $37,000. Atria Wealth Solutions Inc. acquired a new position in shares of KNOT Offshore Partners during the 4th quarter worth $61,000. Valeo Financial Advisors LLC bought a new position in shares of KNOT Offshore Partners during the 1st quarter valued at $57,000. Cubist Systematic Strategies LLC acquired a new stake in shares of KNOT Offshore Partners in the 2nd quarter valued at $229,000. Finally, Jump Financial LLC bought a new stake in KNOT Offshore Partners in the fourth quarter worth $153,000. 26.82% of the stock is currently owned by institutional investors and hedge funds.

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.