KNOT Offshore Partners (NYSE:KNOP) Share Price Crosses Below Two Hundred Day Moving Average of $5.33

KNOT Offshore Partners LP (NYSE:KNOP) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.33 and traded as low as $5.01. KNOT Offshore Partners shares last traded at $5.33, with a volume of 390,333 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KNOP shares. Alliance Global Partners upgraded KNOT Offshore Partners from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 30th. StockNews.com began coverage on KNOT Offshore Partners in a research note on Thursday, August 17th. They set a “hold” rating on the stock.

KNOT Offshore Partners Stock Performance

The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.21 and a current ratio of 0.22. The stock’s 50-day moving average is $5.26 and its 200 day moving average is $5.33. The firm has a market cap of $181.01 million, a P/E ratio of 5.92 and a beta of 0.82.

KNOT Offshore Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th were issued a dividend of $0.026 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Wednesday, July 26th. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently 11.11%.

Hedge Funds Weigh In On KNOT Offshore Partners

Large investors have recently modified their holdings of the business. Credit Suisse AG bought a new position in KNOT Offshore Partners in the 2nd quarter valued at about $43,000. UBS Group AG increased its holdings in shares of KNOT Offshore Partners by 847.7% during the third 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. National Bank of Canada FI increased its holdings in shares of KNOT Offshore Partners by 250.0% during the second quarter. National Bank of Canada FI now owns 7,000 shares of the shipping company’s stock worth $35,000 after purchasing an additional 5,000 shares during the period. Belpointe Asset Management LLC bought a new position in KNOT Offshore Partners in the fourth quarter valued at approximately $76,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in 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 valued at $166,000 after acquiring an additional 1,730 shares during the last quarter. 14.82% of the stock is currently owned by institutional investors and hedge funds.

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.