KNOT Offshore Partners LP (NYSE:KNOP) Sees Significant Decrease in Short Interest

KNOT Offshore Partners LP (NYSE:KNOP) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 341,300 shares, a decline of 8.9% from the September 15th total of 374,600 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 76,400 shares, the short-interest ratio is presently 4.5 days.

Hedge Funds Weigh In On KNOT Offshore Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in shares of KNOT Offshore Partners during the 2nd quarter valued at $229,000. Marshall Wace LLP boosted its holdings in KNOT Offshore Partners by 297.5% in the second quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after purchasing an additional 87,283 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in KNOT Offshore Partners by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after purchasing an additional 41,100 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in KNOT Offshore Partners in the first quarter worth $37,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Tuesday.

KNOT Offshore Partners Trading Down 0.8 %

NYSE KNOP traded down $0.05 on Wednesday, hitting $6.51. 98,178 shares of the stock were exchanged, compared to its average volume of 91,697. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.72. The company has a market capitalization of $221.63 million, a price-to-earnings ratio of -8.57 and a beta of 0.75. The company’s 50-day moving average price is $6.85 and its two-hundred day moving average price is $6.61.

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

KNOT Offshore Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, October 28th. KNOT Offshore Partners’s dividend payout ratio is currently -13.16%.

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.