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

StockNews.com cut shares of KNOT Offshore Partners (NYSE:KNOP) from a strong-buy rating to a buy rating in a research note released on Wednesday.

KNOT Offshore Partners Trading Down 1.8 %

NYSE KNOP opened at $7.46 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.57. The company has a fifty day moving average price of $7.07 and a 200-day moving average price of $6.04. KNOT Offshore Partners has a 1 year low of $4.86 and a 1 year high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.29. The firm had revenue of $76.63 million during the quarter, compared to analyst estimates of $70.66 million. KNOT Offshore Partners had a negative net margin of 8.64% and a positive return on equity of 4.57%. As a group, sell-side analysts anticipate that KNOT Offshore Partners will post -0.07 earnings per share for the current year.

KNOT Offshore Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be given a dividend of $0.026 per share. The ex-dividend date is Monday, July 29th. This represents a $0.10 annualized dividend and a yield of 1.39%. KNOT Offshore Partners’s payout ratio is currently -13.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC purchased a new stake in shares of KNOT Offshore Partners during the 1st quarter worth approximately $37,000. Valeo Financial Advisors LLC purchased a new position in shares of KNOT Offshore Partners during the 1st quarter valued at $57,000. Atria Wealth Solutions Inc. bought a new position in shares of KNOT Offshore Partners during the 4th quarter worth $61,000. EWA LLC purchased a new stake in KNOT Offshore Partners in the 4th quarter worth about $75,000. Finally, Jump Financial LLC bought a new stake in KNOT Offshore Partners in the 4th quarter valued at about $153,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

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.