KNOT Offshore Partners (NYSE:KNOP) Upgraded to Strong-Buy at Fearnley Fonds

Fearnley Fonds upgraded shares of KNOT Offshore Partners (NYSE:KNOP) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Separately, StockNews.com raised shares of KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th.

KNOT Offshore Partners Stock Down 0.9 %

NYSE:KNOP opened at $7.54 on Tuesday. The firm has a 50-day simple moving average of $5.79 and a two-hundred day simple moving average of $6.00. KNOT Offshore Partners has a fifty-two week low of $4.94 and a fifty-two week high of $9.11. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.42 and a current ratio of 0.44. The firm has a market cap of $258.60 million, a P/E ratio of -17.53 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.51. The company had revenue of $91.26 million during the quarter, compared to analyst estimates of $76.50 million. KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. Analysts predict that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Monday, January 27th were paid a $0.026 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, January 27th. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently 24.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC raised its stake in KNOT Offshore Partners by 15.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company’s stock worth $74,000 after acquiring an additional 1,865 shares during the period. Transce3nd LLC bought a new position in shares of KNOT Offshore Partners during the 4th quarter valued at approximately $77,000. Virtu Financial LLC bought a new stake in KNOT Offshore Partners in the fourth quarter worth $135,000. Jane Street Group LLC purchased a new stake in KNOT Offshore Partners during the fourth quarter valued at $184,000. Finally, Trexquant Investment LP lifted 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 valued at $207,000 after purchasing an additional 23,907 shares during the last quarter. Hedge funds and other institutional investors 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.