KNOT Offshore Partners (NYSE:KNOP) Raised 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 note issued to investors on Monday morning.

KNOT Offshore Partners Stock Up 7.0 %

Shares of KNOP opened at $5.34 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.70 and a quick ratio of 0.67. KNOT Offshore Partners has a 1-year low of $4.28 and a 1-year high of $7.00. The firm has a fifty day moving average price of $5.30 and a 200 day moving average price of $5.62.

KNOT Offshore Partners (NYSE:KNOP) last posted 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). The firm had revenue of $73.03 million during the quarter, compared to analysts’ expectations of $70.96 million. KNOT Offshore Partners had a negative net margin of 11.81% and a positive return on equity of 2.86%. Research analysts anticipate that KNOT Offshore Partners will post -0.31 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, April 29th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.95%. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently -9.80%.

Institutional Trading of KNOT Offshore Partners

Large investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC purchased a new stake in shares of KNOT Offshore Partners in the first quarter valued at about $57,000. Atria Wealth Solutions Inc. acquired a new position in KNOT Offshore Partners in the 4th quarter valued at about $61,000. EWA LLC acquired a new position in KNOT Offshore Partners in the 4th quarter valued at about $75,000. Jump Financial LLC purchased a new stake in KNOT Offshore Partners during the 4th quarter valued at approximately $153,000. Finally, FNY Investment Advisers LLC lifted its position in KNOT Offshore Partners by 31.8% during the 4th quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock worth $398,000 after acquiring an additional 16,687 shares during the period. Institutional investors and hedge funds own 26.82% of the company’s stock.

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.