KNOT Offshore Partners (NYSE:KNOP) Stock Rating Upgraded by StockNews.com

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

KNOT Offshore Partners Stock Performance

KNOT Offshore Partners stock opened at $6.73 on Wednesday. The business’s 50-day moving average price is $5.68 and its two-hundred day moving average price is $5.99. The stock has a market cap of $230.82 million, a PE ratio of -15.65 and a beta of 0.70. KNOT Offshore Partners has a 12-month low of $4.94 and a 12-month high of $9.11. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.52.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings data on Wednesday, March 19th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $76.50 million. As a group, analysts expect that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Monday, January 27th were issued a $0.026 dividend. The ex-dividend date was Monday, January 27th. This represents a $0.10 annualized dividend and a yield of 1.55%. KNOT Offshore Partners’s payout ratio is 24.39%.

Institutional Trading of KNOT Offshore Partners

Large investors have recently modified their holdings of the stock. Two Sigma Investments LP lifted its stake in shares of KNOT Offshore Partners by 1.3% in the fourth quarter. Two Sigma Investments LP now owns 189,461 shares of the shipping company’s stock valued at $1,033,000 after buying an additional 2,418 shares in the last quarter. Two Sigma Advisers LP increased its holdings in 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 worth $1,639,000 after acquiring an additional 22,300 shares during the last quarter. Millennium Management LLC boosted its holdings in KNOT Offshore Partners by 123.5% in the 4th quarter. Millennium Management LLC now owns 141,503 shares of the shipping company’s stock worth $771,000 after buying an additional 78,194 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of KNOT Offshore Partners by 15.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 13,589 shares of the shipping company’s stock valued at $74,000 after purchasing an additional 1,865 shares during the period. Finally, 683 Capital Management LLC boosted its position in shares of KNOT Offshore Partners by 2.5% in the fourth quarter. 683 Capital Management LLC now owns 1,610,000 shares of the shipping company’s stock valued at $8,774,000 after acquiring an additional 39,800 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.