KNOT Offshore Partners (NYSE:KNOP) Upgraded at StockNews.com

StockNews.com upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a hold rating to a buy rating in a research report released on Wednesday.

KNOT Offshore Partners Price Performance

Shares of KNOT Offshore Partners stock opened at $6.67 on Wednesday. The stock has a market capitalization of $228.59 million, a P/E ratio of -15.50 and a beta of 0.70. The business has a 50 day simple moving average of $5.71 and a two-hundred day simple moving average of $6.00. KNOT Offshore Partners has a 12 month low of $4.94 and a 12 month high of $9.11. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42.

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, beating analysts’ consensus estimates of $0.04 by $0.51. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. The company had revenue of $91.26 million for the quarter, compared to analyst estimates of $76.50 million. As a group, analysts predict that KNOT Offshore Partners will post 0.12 EPS for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Monday, January 27th were issued a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Monday, January 27th. KNOT Offshore Partners’s dividend payout ratio is currently 24.39%.

Institutional Investors Weigh In On KNOT Offshore Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC increased its stake in shares of KNOT Offshore Partners by 15.9% in 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 last quarter. Two Sigma Investments LP raised its stake in KNOT Offshore Partners by 1.3% during the fourth quarter. Two Sigma Investments LP now owns 189,461 shares of the shipping company’s stock worth $1,033,000 after purchasing an additional 2,418 shares during the period. FNY Investment Advisers LLC raised its stake in KNOT Offshore Partners by 8.8% during the fourth quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock worth $756,000 after purchasing an additional 11,200 shares during the period. Transce3nd LLC acquired a new position in KNOT Offshore Partners in the 4th quarter valued at about $77,000. Finally, Two Sigma Advisers LP grew its stake in shares of KNOT Offshore Partners by 8.0% in the 4th quarter. Two Sigma Advisers LP now owns 300,800 shares of the shipping company’s stock valued at $1,639,000 after buying an additional 22,300 shares during the period. 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.