KNOT Offshore Partners (NYSE:KNOP) Cut to Hold at Zacks Research

Zacks Research cut shares of KNOT Offshore Partners (NYSE:KNOP) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Alliance Global Partners reissued a “neutral” rating on shares of KNOT Offshore Partners in a research report on Monday, December 8th. Weiss Ratings restated a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Thursday, January 22nd. B. Riley Financial downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Fearnley Fonds cut KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

KNOT Offshore Partners Price Performance

KNOT Offshore Partners stock opened at $10.39 on Thursday. The stock’s 50 day moving average is $10.49 and its 200 day moving average is $9.21. KNOT Offshore Partners has a one year low of $5.29 and a one year high of $11.15. The firm has a market cap of $356.38 million, a P/E ratio of 6.70 and a beta of -0.12. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.28 and a quick ratio of 0.27.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Thursday, December 4th. The shipping company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.32. The business had revenue of $96.87 million during the quarter, compared to the consensus estimate of $88.12 million. KNOT Offshore Partners had a net margin of 14.69% and a return on equity of 9.00%. As a group, research analysts expect that KNOT Offshore Partners will post 0.12 EPS for the current year.

KNOT Offshore Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, January 26th were issued a $0.026 dividend. The ex-dividend date was Monday, January 26th. This represents a $0.10 annualized dividend and a yield of 1.0%. KNOT Offshore Partners’s dividend payout ratio is presently 6.45%.

Hedge Funds Weigh In On KNOT Offshore Partners

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP lifted its holdings in shares of 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 purchasing an additional 4,957 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of KNOT Offshore Partners by 220.3% in the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after buying an additional 11,388 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of KNOT Offshore Partners during the second quarter valued at about $68,000. Russell Investments Group Ltd. increased its position 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 worth $58,000 after acquiring an additional 4,836 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in shares of KNOT Offshore Partners by 2.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 143,420 shares of the shipping company’s stock worth $897,000 after acquiring an additional 3,340 shares during the last quarter. 26.82% of the stock is owned by institutional investors and hedge funds.

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.