KNOT Offshore Partners (NYSE:KNOP) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of KNOT Offshore Partners (NYSE:KNOP) from a strong-buy rating to a buy rating in a research report report published on Sunday.

Other equities analysts also recently issued research reports about the stock. Fearnley Fonds downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. B. Riley cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded KNOT Offshore Partners to a “hold” rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, KNOT Offshore Partners presently has a consensus rating of “Hold”.

KNOT Offshore Partners Price Performance

KNOP stock opened at $9.87 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.42 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $338.51 million, a PE ratio of 9.97 and a beta of -0.02. KNOT Offshore Partners has a 12-month low of $5.28 and a 12-month high of $10.00. The business’s fifty day moving average price is $8.95 and its 200 day moving average price is $7.59.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Thursday, September 25th. The shipping company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. KNOT Offshore Partners had a return on equity of 5.58% and a net margin of 10.00%.The company had revenue of $87.06 million for the quarter, compared to the consensus estimate of $81.17 million. On average, sell-side analysts anticipate that KNOT Offshore Partners will post 0.12 EPS for the current year.

KNOT Offshore Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 27th were given a dividend of $0.026 per share. The ex-dividend date was Monday, October 27th. This represents a $0.10 dividend on an annualized basis and a yield of 1.1%. KNOT Offshore Partners’s payout ratio is presently 10.10%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its holdings in shares of KNOT Offshore Partners by 11.5% during the 3rd quarter. GSA Capital Partners LLP now owns 48,075 shares of the shipping company’s stock worth $424,000 after acquiring an additional 4,957 shares during the period. Osaic Holdings Inc. grew its stake in shares of KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after buying an additional 11,388 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in shares of KNOT Offshore Partners during the 2nd quarter worth $68,000. Russell Investments Group Ltd. raised its position in shares of KNOT Offshore Partners by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after buying an additional 4,836 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in KNOT Offshore Partners by 2.4% in the second quarter. FNY Investment Advisers LLC now owns 143,420 shares of the shipping company’s stock valued at $897,000 after acquiring an additional 3,340 shares during the last quarter. 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.