KNOT Offshore Partners (NYSE:KNOP) Shares Cross Below 200-Day Moving Average – Here’s Why

Shares of KNOT Offshore Partners LP (NYSE:KNOP) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.71 and traded as low as $5.91. KNOT Offshore Partners shares last traded at $6.08, with a volume of 60,458 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.

KNOT Offshore Partners Stock Down 3.0 %

The company has a market cap of $202.37 million, a P/E ratio of 118.00 and a beta of 0.76. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76. The business’s fifty day moving average is $6.56 and its two-hundred day moving average is $6.72.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) earnings per share (EPS) 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 the consensus estimate 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 period in the previous year, the company posted $0.27 EPS. Equities analysts predict that KNOT Offshore Partners LP will post 0.15 EPS for the current year.

KNOT Offshore Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Monday, October 28th were given a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, October 28th. KNOT Offshore Partners’s payout ratio is 200.00%.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of large investors have recently made changes to their positions in KNOP. Cubist Systematic Strategies LLC purchased a new position in shares of KNOT Offshore Partners in the second quarter worth $229,000. Marshall Wace LLP raised its stake in KNOT Offshore Partners by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after acquiring an additional 87,283 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in KNOT Offshore Partners by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after acquiring an additional 41,100 shares during the period. 26.82% of the stock is owned by institutional investors and hedge funds.

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.