KNOT Offshore Partners (NYSE:KNOP) Stock Crosses Below Two Hundred Day Moving Average – Here’s What Happened

KNOT Offshore Partners LP (NYSE:KNOP)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.65 and traded as low as $6.05. KNOT Offshore Partners shares last traded at $6.24, with a volume of 89,564 shares traded.

Analyst Upgrades and Downgrades

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

KNOT Offshore Partners Price Performance

The company has a 50-day moving average price of $6.78 and a 200-day moving average price of $6.65. The firm has a market capitalization of $212.44 million, a P/E ratio of -8.21 and a beta of 0.75. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76.

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

KNOT Offshore Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Monday, October 28th will be issued a $0.026 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.10 annualized dividend and a dividend yield of 1.67%. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently -13.16%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in shares of 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 worth $11,498,000 after acquiring an additional 41,100 shares during the period. Marshall Wace LLP boosted 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 purchasing an additional 87,283 shares during the period. Cubist Systematic Strategies LLC bought a new position in KNOT Offshore Partners during the 2nd quarter worth about $229,000. Finally, ORG Partners LLC acquired a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at about $37,000. Institutional investors 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.