KNOT Offshore Partners (NYSE:KNOP) Downgraded 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 report published on Wednesday.

KNOT Offshore Partners Stock Up 0.9 %

KNOP stock opened at $6.97 on Wednesday. KNOT Offshore Partners has a one year low of $4.94 and a one year high of $9.11. The firm has a market cap of $237.29 million, a PE ratio of -9.17 and a beta of 0.75. The firm’s 50 day moving average price is $7.34 and its 200-day moving average price is $6.34. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.67 and a current ratio of 0.71.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.25). KNOT Offshore Partners had a positive return on equity of 4.57% and a negative net margin of 8.64%. The business had revenue of $74.42 million for the quarter, compared to analyst estimates of $69.84 million. During the same period last year, the business earned $0.27 EPS. On average, equities research analysts anticipate that KNOT Offshore Partners will post -0.07 EPS for the current year.

KNOT Offshore Partners Dividend Announcement

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

Institutional Investors Weigh In On KNOT Offshore Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in KNOT Offshore Partners in the 2nd quarter valued at approximately $229,000. Marshall Wace LLP boosted its position in shares of KNOT Offshore Partners by 297.5% during 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. Renaissance Technologies LLC grew its stake in shares of KNOT Offshore Partners by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after buying an additional 41,100 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at $37,000. Finally, Valeo Financial Advisors LLC acquired a new position in KNOT Offshore Partners during the 1st quarter worth about $57,000. 26.82% of the stock is owned by hedge funds and other institutional investors.

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.