KNOT Offshore Partners (NYSE:KNOP) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a buy rating to a strong-buy rating in a research report released on Monday.

KNOT Offshore Partners Price Performance

NYSE KNOP opened at $5.24 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 1.64. KNOT Offshore Partners has a 12-month low of $4.28 and a 12-month high of $7.00. The company has a market capitalization of $178.37 million, a PE ratio of -5.16 and a beta of 0.67. The firm’s 50 day moving average is $5.29 and its 200-day moving average is $5.61.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Monday, February 26th. The shipping company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.23). KNOT Offshore Partners had a negative net margin of 11.81% and a positive return on equity of 2.86%. The firm had revenue of $73.03 million during the quarter, compared to the consensus estimate of $70.96 million. Equities research analysts anticipate that KNOT Offshore Partners will post -0.31 earnings per share for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be paid a $0.026 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.10 annualized dividend and a dividend yield of 1.98%. KNOT Offshore Partners’s dividend payout ratio is presently -9.80%.

Hedge Funds Weigh In On KNOT Offshore Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strategic Income Management LLC bought a new position in KNOT Offshore Partners during the third quarter worth $3,920,000. 683 Capital Management LLC boosted its position in shares of KNOT Offshore Partners by 14.7% in the third quarter. 683 Capital Management LLC now owns 1,146,501 shares of the shipping company’s stock valued at $7,831,000 after acquiring an additional 146,501 shares during the period. Jump Financial LLC bought a new stake in shares of KNOT Offshore Partners in the fourth quarter valued at about $153,000. FNY Investment Advisers LLC boosted its position in shares of KNOT Offshore Partners by 31.8% in the fourth quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock valued at $398,000 after acquiring an additional 16,687 shares during the period. Finally, EWA LLC acquired a new position in KNOT Offshore Partners in the fourth quarter valued at about $75,000. 26.82% of the stock is owned by institutional investors.

About KNOT Offshore Partners

KNOT Offshore Partners LP owns, acquires, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, discharge, and storage of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.