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

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

KNOT Offshore Partners Stock Up 0.9 %

Shares of KNOP opened at $5.25 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.64. The firm has a market cap of $178.54 million, a P/E ratio of -5.14 and a beta of 0.65. The stock’s 50 day moving average is $5.24 and its two-hundred day moving average is $5.58. KNOT Offshore Partners has a 12 month low of $4.34 and a 12 month high of $7.00.

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

KNOT Offshore Partners Announces Dividend

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

Hedge Funds Weigh In On KNOT Offshore Partners

A number of hedge funds have recently made changes to their positions in KNOP. ORG Partners LLC purchased a new stake in shares of KNOT Offshore Partners during the first quarter worth approximately $37,000. Atria Wealth Solutions Inc. purchased a new stake in shares of KNOT Offshore Partners during the fourth quarter worth $61,000. Valeo Financial Advisors LLC acquired a new stake in shares of KNOT Offshore Partners in the first quarter valued at about $57,000. EWA LLC purchased a new position in shares of KNOT Offshore Partners in the fourth quarter worth about $75,000. Finally, FNY Investment Advisers LLC boosted its position in 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 during 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.