KNOT Offshore Partners (NYSE:KNOP) Shares Cross Above 50 Day Moving Average – What’s Next?

Shares of KNOT Offshore Partners LP (NYSE:KNOP) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $10.37 and traded as high as $10.64. KNOT Offshore Partners shares last traded at $10.4250, with a volume of 132,603 shares trading hands.

Analysts Set New Price Targets

KNOP has been the topic of a number of research reports. B. Riley downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Wall Street Zen lowered KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Zacks Research upgraded KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Alliance Global Partners reaffirmed a “neutral” rating on shares of KNOT Offshore Partners in a research note on Monday, December 8th. Finally, Fearnley Fonds cut KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

KNOT Offshore Partners Price Performance

The company has a current ratio of 0.28, a quick ratio of 0.27 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $362.18 million, a PE ratio of 6.73 and a beta of -0.14. The stock’s 50-day moving average is $10.37 and its two-hundred day moving average is $9.01.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Thursday, December 4th. The shipping company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.32. KNOT Offshore Partners had a return on equity of 9.00% and a net margin of 14.69%.The firm had revenue of $96.87 million for the quarter, compared to analysts’ expectations of $88.12 million. On average, equities analysts predict that KNOT Offshore Partners LP will post 0.12 EPS for the current year.

KNOT Offshore Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Monday, January 26th will be paid a $0.026 dividend. The ex-dividend date is Monday, January 26th. This represents a $0.10 dividend on an annualized basis and a yield of 1.0%. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently 6.45%.

Institutional Trading of KNOT Offshore Partners

A number of large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its stake in KNOT Offshore Partners by 11.5% in the 3rd quarter. GSA Capital Partners LLP now owns 48,075 shares of the shipping company’s stock worth $424,000 after buying an additional 4,957 shares during the period. Osaic Holdings Inc. grew its stake in KNOT Offshore Partners by 220.3% in the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after acquiring an additional 11,388 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of KNOT Offshore Partners during the second quarter worth approximately $68,000. Russell Investments Group Ltd. raised its stake in shares of KNOT Offshore Partners by 115.0% during the second quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock valued at $58,000 after acquiring an additional 4,836 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its holdings in shares of KNOT Offshore Partners by 2.4% in the second quarter. FNY Investment Advisers LLC now owns 143,420 shares of the shipping company’s stock valued at $897,000 after purchasing an additional 3,340 shares during the period. 26.82% of the stock is owned by hedge funds and other institutional investors.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.