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

StockNews.com upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a buy rating to a strong-buy rating in a research note released on Monday.

KNOT Offshore Partners Trading Up 7.0 %

Shares of KNOT Offshore Partners stock opened at $5.34 on Monday. KNOT Offshore Partners has a fifty-two week low of $4.28 and a fifty-two week high of $7.00. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 1.64. The firm has a 50-day simple moving average of $5.30 and a two-hundred day simple moving average of $5.62.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Monday, February 26th. The shipping company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.23). The business had revenue of $73.03 million during the quarter, compared to analyst estimates of $70.96 million. KNOT Offshore Partners had a positive return on equity of 2.86% and a negative net margin of 11.81%. Equities research analysts forecast that KNOT Offshore Partners will post -0.31 earnings per share for the current year.

KNOT Offshore Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be paid a $0.026 dividend. The ex-dividend date is Friday, April 26th. This represents a $0.10 dividend on an annualized basis and a yield of 1.95%. KNOT Offshore Partners’s dividend payout ratio is currently -9.80%.

Hedge Funds Weigh In On KNOT Offshore Partners

Large investors have recently added to or reduced their stakes in the stock. 683 Capital Management LLC grew its position in shares of KNOT Offshore Partners by 14.7% in the third quarter. 683 Capital Management LLC now owns 1,146,501 shares of the shipping company’s stock valued at $7,831,000 after purchasing an additional 146,501 shares during the period. Strategic Income Management LLC acquired a new stake in KNOT Offshore Partners in the 3rd quarter worth about $3,920,000. FNY Investment Advisers LLC increased its stake in KNOT Offshore Partners by 31.8% during the 4th quarter. FNY Investment Advisers LLC now owns 69,175 shares of the shipping company’s stock worth $398,000 after buying an additional 16,687 shares in the last quarter. EWA LLC acquired a new position in shares of KNOT Offshore Partners during the fourth quarter valued at approximately $75,000. Finally, Jump Financial LLC acquired a new position in shares of KNOT Offshore Partners during the fourth quarter valued at approximately $153,000. 26.82% of the stock is currently owned by institutional investors and hedge funds.

About KNOT Offshore Partners

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. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.