KNOT Offshore Partners (NYSE:KNOP) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a buy rating to a strong-buy rating in a research report sent to investors on Monday.

KNOT Offshore Partners Stock Down 0.4 %

Shares of NYSE KNOP opened at $5.24 on Monday. KNOT Offshore Partners has a 52 week low of $4.28 and a 52 week high of $7.00. The business has a 50-day simple moving average of $5.29 and a two-hundred day simple moving average of $5.61. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.64. The company has a market cap of $178.37 million, a P/E ratio of -5.16 and a beta of 0.67.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Monday, February 26th. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.23). The business had revenue of $73.03 million for the quarter, compared to the consensus estimate of $70.96 million. KNOT Offshore Partners had a negative net margin of 11.81% and a positive return on equity of 2.86%. Research analysts anticipate that KNOT Offshore Partners will post -0.31 earnings per share for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, April 29th will be given a dividend of $0.026 per share. The ex-dividend date is Friday, April 26th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.98%. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently -9.80%.

Institutional Trading of KNOT Offshore Partners

A number of large investors have recently modified their holdings of the business. Strategic Income Management LLC purchased a new position in shares of KNOT Offshore Partners during the 3rd quarter valued at about $3,920,000. 683 Capital Management LLC raised its stake in shares of KNOT Offshore Partners by 14.7% during the third quarter. 683 Capital Management LLC now owns 1,146,501 shares of the shipping company’s stock worth $7,831,000 after acquiring an additional 146,501 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of KNOT Offshore Partners by 31.8% during the fourth quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock worth $398,000 after acquiring an additional 16,687 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of KNOT Offshore Partners during the fourth quarter worth approximately $61,000. Finally, EWA LLC purchased a new position in shares of KNOT Offshore Partners during the fourth quarter worth approximately $75,000. Institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP owns, acquires, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, discharge, and storage of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.