KNOT Offshore Partners (NYSE:KNOP) Share Price Passes Below Two Hundred Day Moving Average of $13.92

KNOT Offshore Partners LP (NYSE:KNOPGet Rating)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.92 and traded as low as $5.37. KNOT Offshore Partners shares last traded at $5.60, with a volume of 792,010 shares changing hands.

Wall Street Analyst Weigh In

KNOP has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of KNOT Offshore Partners in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Alliance Global Partners lowered shares of KNOT Offshore Partners from a “buy” rating to a “sell” rating in a research note on Thursday, January 12th. Finally, B. Riley reduced their price target on shares of KNOT Offshore Partners from $22.00 to $15.00 in a research note on Friday, January 6th.

KNOT Offshore Partners Trading Up 0.5 %

The company has a current ratio of 0.22, a quick ratio of 0.21 and a debt-to-equity ratio of 1.25. The company’s fifty day moving average is $9.91 and its 200-day moving average is $13.84. The firm has a market capitalization of $192.56 million, a P/E ratio of 2.55 and a beta of 1.03.

KNOT Offshore Partners (NYSE:KNOPGet Rating) last posted its quarterly earnings data on Tuesday, November 29th. The shipping company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.29. The business had revenue of $67.82 million during the quarter, compared to the consensus estimate of $64.23 million. KNOT Offshore Partners had a net margin of 28.16% and a return on equity of 12.18%. As a group, sell-side analysts anticipate that KNOT Offshore Partners LP will post 1.71 earnings per share for the current fiscal year.

KNOT Offshore Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 9th. Stockholders of record on Thursday, January 26th will be paid a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, January 25th. KNOT Offshore Partners’s dividend payout ratio is 93.69%.

Institutional Investors Weigh In On KNOT Offshore Partners

A number of hedge funds have recently made changes to their positions in the company. Credit Suisse AG bought a new stake in KNOT Offshore Partners during the 2nd quarter worth about $43,000. UBS Group AG grew its holdings in KNOT Offshore Partners by 847.7% during the 3rd quarter. UBS Group AG now owns 6,899 shares of the shipping company’s stock worth $97,000 after acquiring an additional 6,171 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in KNOT Offshore Partners by 17.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,810 shares of the shipping company’s stock worth $166,000 after acquiring an additional 1,730 shares during the last quarter. Arrow Investment Advisors LLC bought a new position in shares of KNOT Offshore Partners in the 3rd quarter valued at about $167,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of KNOT Offshore Partners in the 3rd quarter valued at about $182,000. Institutional investors and hedge funds own 15.93% of the company’s stock.

About KNOT Offshore Partners

(Get Rating)

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. As of March 17, 2022, it operated a fleet of seventeen shuttle tankers.

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