KNOT Offshore Partners (NYSE:KNOP) Upgraded at B. Riley Financial

B. Riley Financial upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a neutral rating to a buy rating in a research note published on Friday morning, MarketBeat reports. They currently have $14.00 price target on the shipping company’s stock.

A number of other analysts also recently commented on the company. Alliance Global Partners reiterated a “neutral” rating on shares of KNOT Offshore Partners in a research report on Monday, December 8th. Zacks Research cut KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.00.

KNOT Offshore Partners Stock Down 10.7%

Shares of KNOP opened at $9.14 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.27 and a current ratio of 0.28. The company has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $9.88. KNOT Offshore Partners has a 52 week low of $5.45 and a 52 week high of $11.15. The firm has a market capitalization of $311.31 million, a P/E ratio of 5.90 and a beta of -0.12.

KNOT Offshore Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, January 26th were given a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, January 26th. KNOT Offshore Partners’s dividend payout ratio is 6.45%.

Institutional Investors Weigh In On KNOT Offshore Partners

Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP raised 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 buying an additional 4,957 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of KNOT Offshore Partners by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,227,035 shares of the shipping company’s stock worth $12,700,000 after buying an additional 32,369 shares during the period. Millennium Management LLC boosted its stake in KNOT Offshore Partners by 56.5% in the 4th quarter. Millennium Management LLC now owns 145,483 shares of the shipping company’s stock valued at $1,506,000 after buying an additional 52,538 shares in the last quarter. XTX Topco Ltd acquired a new stake in KNOT Offshore Partners in the 4th quarter valued at $277,000. Finally, Virtu Financial LLC bought a new stake in KNOT Offshore Partners in the fourth quarter valued at $138,000. 26.82% of the stock is owned by institutional investors and hedge funds.

About KNOT Offshore Partners

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.