KNOT Offshore Partners (NYSE:KNOP) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a buy rating to a strong-buy rating in a report issued on Friday morning.

KNOT Offshore Partners Price Performance

Shares of NYSE:KNOP opened at $7.24 on Friday. KNOT Offshore Partners has a 1-year low of $4.86 and a 1-year high of $9.11. The company’s fifty day moving average is $7.24 and its two-hundred day moving average is $6.07. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.71 and a quick ratio of 0.67.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Wednesday, May 22nd. The shipping company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.29. The firm had revenue of $76.63 million for the quarter, compared to analyst estimates of $70.66 million. KNOT Offshore Partners had a positive return on equity of 4.57% and a negative net margin of 8.64%. Equities research analysts forecast that KNOT Offshore Partners will post -0.07 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be issued a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, July 29th. KNOT Offshore Partners’s payout ratio is currently -13.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. ORG Partners LLC bought a new position in shares of KNOT Offshore Partners during the 1st quarter valued at about $37,000. Valeo Financial Advisors LLC acquired a new stake in KNOT Offshore Partners during the first quarter valued at $57,000. Atria Wealth Solutions Inc. acquired a new stake in shares of KNOT Offshore Partners during the 4th quarter valued at about $61,000. EWA LLC bought a new stake in KNOT Offshore Partners in the fourth quarter worth approximately $75,000. Finally, Jump Financial LLC bought a new stake in KNOT Offshore Partners in the fourth quarter worth $153,000. Institutional investors and hedge funds 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.