KNOT Offshore Partners (NYSE:KNOP) Shares Cross Below 200-Day Moving Average – Should You Sell?

Shares of KNOT Offshore Partners LP (NYSE:KNOP) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.68 and traded as low as $5.93. KNOT Offshore Partners shares last traded at $6.21, with a volume of 180,090 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research report on Friday, December 6th.

KNOT Offshore Partners Stock Performance

The stock has a fifty day moving average of $5.84 and a 200-day moving average of $6.68. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.52. The stock has a market cap of $212.98 million, a PE ratio of -14.44 and a beta of 0.74.

KNOT Offshore Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were paid a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, October 28th. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently -23.26%.

Institutional Trading of KNOT Offshore Partners

Several hedge funds have recently made changes to their positions in KNOP. Cubist Systematic Strategies LLC purchased a new position in KNOT Offshore Partners during the second quarter worth about $229,000. JPMorgan Chase & Co. increased its position in KNOT Offshore Partners by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock worth $3,030,000 after purchasing an additional 31,792 shares during the period. Renaissance Technologies LLC increased its position in KNOT Offshore Partners by 3.2% during 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 during the period. Finally, Marshall Wace LLP raised its stake in shares of KNOT Offshore Partners by 297.5% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 26.82% of the company’s stock.

KNOT Offshore Partners Company Profile

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.