KNOT Offshore Partners (NYSE:KNOP) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of KNOT Offshore Partners (NYSE:KNOP) from a strong-buy rating to a hold rating in a report published on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on KNOP. B. Riley Financial cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Wall Street Zen lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Fearnley Fonds lowered KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Alliance Global Partners reaffirmed a “neutral” rating on shares of KNOT Offshore Partners in a research report on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, KNOT Offshore Partners presently has a consensus rating of “Hold”.

KNOT Offshore Partners Price Performance

NYSE:KNOP opened at $10.39 on Thursday. The business’s 50-day moving average is $10.49 and its 200 day moving average is $9.20. KNOT Offshore Partners has a 12 month low of $5.29 and a 12 month high of $11.15. The company has a current ratio of 0.28, a quick ratio of 0.27 and a debt-to-equity ratio of 1.20.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Thursday, December 4th. The shipping company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.32. KNOT Offshore Partners had a net margin of 14.69% and a return on equity of 9.00%. The business had revenue of $96.87 million during the quarter, compared to analysts’ expectations of $88.12 million. On average, research analysts expect that KNOT Offshore Partners will post 0.12 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, January 26th were issued a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, January 26th. KNOT Offshore Partners’s dividend payout ratio is presently 6.45%.

Institutional Trading of KNOT Offshore Partners

A number of hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in KNOT Offshore Partners by 115.0% during the second quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock valued at $58,000 after acquiring an additional 4,836 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in KNOT Offshore Partners in the second quarter valued at $68,000. Osaic Holdings Inc. raised its position in shares of KNOT Offshore Partners by 220.3% in the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after acquiring an additional 11,388 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of KNOT Offshore Partners during the 1st quarter worth about $130,000. Finally, GSA Capital Partners LLP grew its position in shares of KNOT Offshore Partners by 11.5% during the 3rd quarter. GSA Capital Partners LLP now owns 48,075 shares of the shipping company’s stock valued at $424,000 after acquiring an additional 4,957 shares during the period. Hedge funds and other institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.