KNOT Offshore Partners (NYSE:KNOP) Cut 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 note released on Tuesday.

KNOT Offshore Partners Trading Up 11.8 %

Shares of NYSE KNOP opened at $6.29 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52. KNOT Offshore Partners has a one year low of $4.94 and a one year high of $9.11. The business has a 50-day moving average price of $5.65 and a two-hundred day moving average price of $6.02. The firm has a market capitalization of $215.80 million, a PE ratio of -14.63 and a beta of 0.70.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings data on Wednesday, March 19th. The shipping company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.51. The firm had revenue of $91.26 million for the quarter, compared to the consensus estimate of $76.50 million. KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. As a group, analysts predict that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Monday, January 27th were paid a $0.026 dividend. The ex-dividend date was Monday, January 27th. This represents a $0.10 dividend on an annualized basis and a yield of 1.65%. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently -23.26%.

Institutional Investors Weigh In On KNOT Offshore Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in KNOP. Cubist Systematic Strategies LLC increased its holdings in KNOT Offshore Partners by 15.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company’s stock worth $74,000 after buying an additional 1,865 shares during the last quarter. Transce3nd LLC bought a new stake in KNOT Offshore Partners during the fourth quarter valued at about $77,000. Virtu Financial LLC bought a new stake in KNOT Offshore Partners during the 4th quarter valued at approximately $135,000. Jane Street Group LLC acquired a new stake in shares of KNOT Offshore Partners in the fourth quarter worth $184,000. Finally, Trexquant Investment LP increased its position in KNOT Offshore Partners by 170.4% during the fourth quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company’s stock worth $207,000 after acquiring an additional 23,907 shares during the period. 26.82% of the stock is owned by hedge funds and other institutional investors.

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.