KNOT Offshore Partners (NYSE:KNOP) Stock Crosses Above 200-Day Moving Average of $6.12

KNOT Offshore Partners LP (NYSE:KNOP)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.12 and traded as high as $7.01. KNOT Offshore Partners shares last traded at $6.82, with a volume of 138,268 shares.

Analyst Ratings Changes

Separately, StockNews.com raised shares of KNOT Offshore Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, July 26th.

KNOT Offshore Partners Trading Down 4.7 %

The firm has a market cap of $232.15 million, a P/E ratio of -8.97 and a beta of 0.75. The company’s 50 day simple moving average is $7.42 and its 200-day simple moving average is $6.12. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.57.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.29. The firm had revenue of $76.63 million for the quarter, compared to analysts’ expectations 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, research analysts predict that KNOT Offshore Partners LP will post -0.07 earnings per share for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Monday, July 29th will be issued a $0.026 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.10 annualized dividend and a dividend yield of 1.52%. KNOT Offshore Partners’s payout ratio is currently -13.16%.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of large investors have recently bought and sold shares of KNOP. ORG Partners LLC bought a new position in shares of KNOT Offshore Partners during the 1st quarter worth approximately $37,000. Atria Wealth Solutions Inc. acquired a new stake in shares of KNOT Offshore Partners in the 4th quarter worth $61,000. Valeo Financial Advisors LLC purchased a new position in KNOT Offshore Partners during the 1st quarter worth $57,000. EWA LLC acquired a new position in KNOT Offshore Partners during the 4th quarter valued at about $75,000. Finally, Jump Financial LLC purchased a new stake in KNOT Offshore Partners in the fourth quarter valued at about $153,000. Institutional investors 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.