KNOT Offshore Partners (NYSE:KNOP) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a buy rating to a strong-buy rating in a research report report published on Friday morning.

KNOT Offshore Partners Stock Up 5.7 %

Shares of KNOP traded up $0.33 during trading hours on Friday, hitting $6.08. The company had a trading volume of 160,193 shares, compared to its average volume of 79,262. KNOT Offshore Partners has a 52-week low of $4.65 and a 52-week high of $7.00. The firm has a fifty day moving average price of $5.27 and a 200-day moving average price of $5.55. The stock has a market capitalization of $206.96 million, a price-to-earnings ratio of -8.00 and a beta of 0.65. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.67 and a current ratio of 0.71.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Monday, February 26th. The shipping company reported ($0.16) earnings per share (EPS) 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 the consensus estimate of $70.96 million. KNOT Offshore Partners had a positive return on equity of 4.57% and a negative net margin of 8.64%. On average, equities research analysts forecast that KNOT Offshore Partners will post -0.31 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Monday, April 29th were given a dividend of $0.026 per share. The ex-dividend date was Friday, April 26th. This represents a $0.10 annualized dividend and a dividend yield of 1.71%. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently -13.16%.

Institutional Investors Weigh In On KNOT Offshore Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC purchased a new position in shares of KNOT Offshore Partners in the 1st quarter worth $37,000. Valeo Financial Advisors LLC purchased a new stake in shares of KNOT Offshore Partners during the 1st quarter valued at about $57,000. Jump Financial LLC bought a new position in shares of KNOT Offshore Partners in the 4th quarter worth approximately $153,000. EWA LLC purchased a new position in shares of KNOT Offshore Partners in the fourth quarter worth approximately $75,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in KNOT Offshore Partners during the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.