KNOT Offshore Partners (NYSE:KNOP) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a hold rating to a buy rating in a report published on Thursday.

KNOT Offshore Partners Price Performance

Shares of NYSE KNOP opened at $6.67 on Thursday. KNOT Offshore Partners has a 1 year low of $4.94 and a 1 year high of $9.11. The stock has a market capitalization of $227.08 million, a P/E ratio of -8.78 and a beta of 0.75. The company’s 50-day moving average is $6.92 and its 200 day moving average is $6.54. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.72.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.25). The firm had revenue of $74.42 million for the quarter, compared to analysts’ expectations of $69.84 million. KNOT Offshore Partners had a return on equity of 2.84% and a net margin of 0.66%. During the same quarter last year, the company posted $0.27 EPS. On average, sell-side analysts expect that KNOT Offshore Partners will post 0.15 earnings per share for the current year.

KNOT Offshore Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Monday, July 29th were given a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Monday, July 29th. KNOT Offshore Partners’s dividend payout ratio is presently -13.16%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of KNOP. ORG Partners LLC purchased a new stake in KNOT Offshore Partners in the first quarter worth about $37,000. Cubist Systematic Strategies LLC purchased a new stake in shares of KNOT Offshore Partners in the 2nd quarter worth approximately $229,000. Marshall Wace LLP increased its position in KNOT Offshore Partners by 297.5% during the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock valued at $1,023,000 after buying an additional 87,283 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in KNOT Offshore Partners by 3.2% during the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after buying an additional 41,100 shares during the last quarter. 26.82% of the stock is 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.