KNOT Offshore Partners (NYSE:KNOP) Stock Rating Upgraded by StockNews.com

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

KNOT Offshore Partners Trading Down 1.7 %

NYSE KNOP opened at $6.67 on Wednesday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42. The stock has a market capitalization of $228.59 million, a P/E ratio of -15.50 and a beta of 0.70. The firm’s 50-day moving average is $5.71 and its two-hundred day moving average is $6.00. KNOT Offshore Partners has a 12 month low of $4.94 and a 12 month high of $9.11.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Wednesday, March 19th. The shipping company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.04 by $0.51. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. The business had revenue of $91.26 million during the quarter, compared to analyst estimates of $76.50 million. On average, sell-side analysts anticipate that KNOT Offshore Partners will post 0.12 earnings per share for the current year.

KNOT Offshore Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Monday, January 27th were given a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 1.56%. The ex-dividend date was Monday, January 27th. KNOT Offshore Partners’s dividend payout ratio is currently 24.39%.

Institutional Trading of KNOT Offshore Partners

Hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC increased its stake in KNOT Offshore Partners by 8.8% during the 4th quarter. FNY Investment Advisers LLC now owns 138,890 shares of the shipping company’s stock worth $756,000 after buying an additional 11,200 shares during the period. JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 31,792 shares in the last quarter. Millennium Management LLC increased its holdings in KNOT Offshore Partners by 123.5% in the fourth quarter. Millennium Management LLC now owns 141,503 shares of the shipping company’s stock valued at $771,000 after buying an additional 78,194 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of KNOT Offshore Partners in the 4th quarter valued at about $184,000. Finally, Two Sigma Investments LP raised its position in shares of KNOT Offshore Partners by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 189,461 shares of the shipping company’s stock worth $1,033,000 after acquiring an additional 2,418 shares in the last quarter. Institutional investors and hedge funds own 26.82% of the company’s stock.

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.