KNOT Offshore Partners (NYSE:KNOP) Share Price Passes Below 200 Day Moving Average – What’s Next?

KNOT Offshore Partners LP (NYSE:KNOP) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.75 and traded as low as $6.01. KNOT Offshore Partners shares last traded at $6.08, with a volume of 72,646 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.

KNOT Offshore Partners Stock Performance

The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.72. The company has a 50 day simple moving average of $6.46 and a 200-day simple moving average of $6.76. The firm has a market cap of $208.20 million, a PE ratio of 121.40 and a beta of 0.76.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings data on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.25). The business had revenue of $74.42 million during the quarter, compared to analysts’ expectations of $69.84 million. KNOT Offshore Partners had a net margin of 0.66% and a return on equity of 2.84%. During the same period last year, the company posted $0.27 EPS. As a group, equities research analysts anticipate that KNOT Offshore Partners LP will post 0.15 EPS for the current year.

KNOT Offshore Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were issued a $0.026 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.10 annualized dividend and a dividend yield of 1.71%. KNOT Offshore Partners’s dividend payout ratio is currently 200.00%.

Institutional Trading of KNOT Offshore Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in shares of KNOT Offshore Partners in the second quarter worth $229,000. Marshall Wace LLP grew its holdings in KNOT Offshore Partners by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after acquiring an additional 87,283 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position 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 acquiring an additional 41,100 shares during the period. Institutional investors 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.