KNOT Offshore Partners (NYSE:KNOP) Stock Rating Lowered by StockNews.com

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

KNOT Offshore Partners Stock Up 0.9 %

Shares of NYSE KNOP opened at $6.97 on Wednesday. The company has a market cap of $237.29 million, a price-to-earnings ratio of -9.17 and a beta of 0.75. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.57. The firm’s fifty day moving average is $7.34 and its 200 day moving average is $6.35. KNOT Offshore Partners has a 52 week low of $4.94 and a 52 week high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.25). The firm had revenue of $74.42 million for the quarter, compared to the consensus estimate 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 period last year, the company posted $0.27 earnings per share. On average, equities research analysts expect that KNOT Offshore Partners will post -0.07 earnings per share for the current year.

KNOT Offshore Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were paid a dividend of $0.026 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.10 annualized dividend and a dividend yield of 1.49%. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently -13.16%.

Institutional Trading of KNOT Offshore Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC purchased a new position in KNOT Offshore Partners during the 4th quarter valued at $153,000. Atria Wealth Solutions Inc. purchased a new position in shares of KNOT Offshore Partners during the fourth quarter valued at about $61,000. ORG Partners LLC bought a new position in KNOT Offshore Partners in the first quarter worth about $37,000. 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 worth $1,023,000 after buying an additional 87,283 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in KNOT Offshore Partners during the 2nd quarter valued at approximately $229,000. Hedge funds and other institutional investors 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.