KNOT Offshore Partners (NYSE:KNOP) Upgraded at Wall Street Zen

Wall Street Zen 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 Saturday.

Other equities analysts also recently issued reports about the company. Zacks Research upgraded KNOT Offshore Partners to a “hold” rating in a research report on Monday, August 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

KNOT Offshore Partners Stock Performance

Shares of KNOP stock opened at $9.91 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average of $8.72 and a two-hundred day moving average of $7.44. KNOT Offshore Partners has a 52 week low of $5.28 and a 52 week high of $10.00. The company has a market cap of $339.88 million, a P/E ratio of 10.01 and a beta of -0.03.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Thursday, September 25th. The shipping company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. KNOT Offshore Partners had a return on equity of 5.58% and a net margin of 10.00%.The company had revenue of $87.06 million during the quarter, compared to the consensus estimate of $81.17 million. As a group, analysts anticipate that KNOT Offshore Partners will post 0.12 EPS for the current year.

KNOT Offshore Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Monday, October 27th will be issued a $0.026 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $0.10 annualized dividend and a dividend yield of 1.0%. KNOT Offshore Partners’s dividend payout ratio is currently 10.10%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in shares of KNOT Offshore Partners by 115.0% in the second quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock valued at $58,000 after buying an additional 4,836 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in KNOT Offshore Partners during the 2nd quarter worth approximately $68,000. Osaic Holdings Inc. grew its position in KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after purchasing an additional 11,388 shares in the last quarter. Acadian Asset Management LLC purchased a new position in KNOT Offshore Partners during the 1st quarter worth approximately $130,000. Finally, Trexquant Investment LP grew its position in KNOT Offshore Partners by 26.1% during the 1st quarter. Trexquant Investment LP now owns 47,842 shares of the shipping company’s stock worth $334,000 after purchasing an additional 9,904 shares in the last quarter. Institutional investors own 26.82% of the company’s stock.

About KNOT Offshore Partners

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.