KNOT Offshore Partners (NYSE:KNOP) Share Price Crosses Below Two Hundred Day Moving Average of $13.92

KNOT Offshore Partners LP (NYSE:KNOPGet Rating) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.92 and traded as low as $5.37. KNOT Offshore Partners shares last traded at $5.60, with a volume of 792,010 shares.

Analyst Ratings Changes

A number of analysts recently commented on the company. Alliance Global Partners cut KNOT Offshore Partners from a “buy” rating to a “sell” rating in a research report on Thursday, January 12th. StockNews.com began coverage on shares of KNOT Offshore Partners in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, B. Riley cut their price target on KNOT Offshore Partners from $22.00 to $15.00 in a report on Friday, January 6th.

KNOT Offshore Partners Trading Up 2.4 %

The business has a 50 day simple moving average of $10.08 and a 200-day simple moving average of $13.92. The company has a current ratio of 0.22, a quick ratio of 0.21 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $190.18 million, a price-to-earnings ratio of 2.52 and a beta of 1.03.

KNOT Offshore Partners (NYSE:KNOPGet Rating) last released its earnings results on Tuesday, November 29th. The shipping company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.29. KNOT Offshore Partners had a net margin of 28.16% and a return on equity of 12.18%. The business had revenue of $67.82 million for the quarter, compared to analysts’ expectations of $64.23 million. On average, equities analysts predict that KNOT Offshore Partners LP will post 1.71 earnings per share for the current year.

KNOT Offshore Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 9th. Stockholders of record on Thursday, January 26th will be issued a dividend of $0.026 per share. The ex-dividend date of this dividend is Wednesday, January 25th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.86%. KNOT Offshore Partners’s payout ratio is 93.69%.

Institutional Investors Weigh In On KNOT Offshore Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Naples Global Advisors LLC raised its holdings in KNOT Offshore Partners by 40.2% in the fourth quarter. Naples Global Advisors LLC now owns 84,110 shares of the shipping company’s stock valued at $810,000 after buying an additional 24,128 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of KNOT Offshore Partners by 17.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 11,810 shares of the shipping company’s stock worth $166,000 after acquiring an additional 1,730 shares in the last quarter. Arrow Investment Advisors LLC purchased a new position in shares of KNOT Offshore Partners in the 3rd quarter valued at $167,000. Cubist Systematic Strategies LLC acquired a new position in shares of KNOT Offshore Partners during the 3rd quarter valued at $182,000. Finally, UBS Group AG boosted its position in KNOT Offshore Partners by 847.7% during the 3rd quarter. UBS Group AG now owns 6,899 shares of the shipping company’s stock worth $97,000 after purchasing an additional 6,171 shares during the period. Hedge funds and other institutional investors own 15.93% of the company’s stock.

KNOT Offshore Partners Company Profile

(Get Rating)

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. As of March 17, 2022, it operated a fleet of seventeen shuttle tankers.

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