StockNews.com Lowers KNOT Offshore Partners (NYSE:KNOP) to Hold

StockNews.com cut shares of KNOT Offshore Partners (NYSE:KNOP) from a buy rating to a hold rating in a research report report published on Tuesday.

KNOT Offshore Partners Price Performance

Shares of KNOT Offshore Partners stock opened at $6.51 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.72. KNOT Offshore Partners has a 1 year low of $4.94 and a 1 year high of $9.11. The firm’s 50-day moving average is $6.83 and its two-hundred day moving average is $6.61. The stock has a market cap of $221.63 million, a price-to-earnings ratio of -8.57 and a beta of 0.75.

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

KNOT Offshore Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Monday, October 28th will be issued a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Monday, October 28th. KNOT Offshore Partners’s dividend payout ratio is currently -13.16%.

Institutional Trading of KNOT Offshore Partners

Institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP boosted its stake 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 purchasing an additional 87,283 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in KNOT Offshore Partners in the 2nd quarter worth approximately $229,000. ORG Partners LLC acquired a new stake in KNOT Offshore Partners in the 1st quarter worth approximately $37,000. Finally, Renaissance Technologies LLC boosted its stake in KNOT Offshore Partners by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after purchasing an additional 41,100 shares in the last quarter. 26.82% of the stock is currently owned by institutional investors and hedge funds.

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.