KNOT Offshore Partners (NYSE:KNOP) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of KNOT Offshore Partners LP (NYSE:KNOP) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.68 and traded as low as $5.93. KNOT Offshore Partners shares last traded at $6.21, with a volume of 180,090 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research note on Friday, December 6th.

KNOT Offshore Partners Price Performance

The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42. The stock has a market cap of $212.98 million, a price-to-earnings ratio of -14.44 and a beta of 0.74. The stock has a fifty day moving average of $5.84 and a 200 day moving average of $6.68.

KNOT Offshore Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were issued a dividend of $0.026 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, October 28th. KNOT Offshore Partners’s dividend payout ratio (DPR) is -23.26%.

Institutional Investors Weigh In On KNOT Offshore Partners

A number of institutional investors and hedge funds have recently modified their holdings of KNOP. Marshall Wace LLP lifted its holdings 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 period. Cubist Systematic Strategies LLC acquired a new position in KNOT Offshore Partners in the second quarter valued at approximately $229,000. Renaissance Technologies LLC lifted its holdings in KNOT Offshore Partners by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after acquiring an additional 41,100 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in KNOT Offshore Partners by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock valued at $3,030,000 after acquiring an additional 31,792 shares during the period. Institutional investors and hedge funds own 26.82% of the company’s stock.

KNOT Offshore Partners Company Profile

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.