StockNews.com Downgrades KNOT Offshore Partners (NYSE:KNOP) to Hold

StockNews.com cut shares of KNOT Offshore Partners (NYSE:KNOP) from a buy rating to a hold rating in a research report released on Tuesday morning.

KNOT Offshore Partners Stock Performance

Shares of NYSE KNOP opened at $6.29 on Tuesday. The firm has a market capitalization of $215.80 million, a price-to-earnings ratio of -14.63 and a beta of 0.70. KNOT Offshore Partners has a one year low of $4.94 and a one year high of $9.11. The business has a fifty day simple moving average of $5.65 and a 200 day simple moving average of $6.02. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.52.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings data on Wednesday, March 19th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.51. The company had revenue of $91.26 million during the quarter, compared to analysts’ expectations of $76.50 million. KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. Sell-side analysts expect that KNOT Offshore Partners will post 0.12 EPS for the current year.

KNOT Offshore Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Monday, January 27th were paid a dividend of $0.026 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Monday, January 27th. KNOT Offshore Partners’s dividend payout ratio is -23.26%.

Institutional Investors Weigh In On KNOT Offshore Partners

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of KNOT Offshore Partners by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 442,332 shares of the shipping company’s stock worth $3,030,000 after buying an additional 31,792 shares during the period. FNY Investment Advisers LLC lifted its holdings in shares of KNOT Offshore Partners by 8.8% during the fourth quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock valued at $756,000 after acquiring an additional 11,200 shares during the period. Virtu Financial LLC bought a new position in shares of KNOT Offshore Partners during the fourth quarter valued at $135,000. Trexquant Investment LP boosted its stake in shares of KNOT Offshore Partners by 170.4% in the 4th quarter. Trexquant Investment LP now owns 37,938 shares of the shipping company’s stock valued at $207,000 after purchasing an additional 23,907 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of KNOT Offshore Partners by 19.0% in the 4th quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company’s stock worth $1,112,000 after purchasing an additional 32,616 shares during the last quarter. 26.82% of the stock is currently owned by institutional investors.

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.