KNOT Offshore Partners (NYSE:KNOP) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

KNOT Offshore Partners LP (NYSE:KNOP) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.71 and traded as low as $5.91. KNOT Offshore Partners shares last traded at $6.08, with a volume of 60,458 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.

KNOT Offshore Partners Price Performance

The firm has a market cap of $202.37 million, a PE ratio of 118.00 and a beta of 0.76. The stock has a 50 day simple moving average of $6.56 and a two-hundred day simple moving average of $6.72. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.72 and a current ratio of 0.76.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.25). KNOT Offshore Partners had a return on equity of 2.84% and a net margin of 0.66%. The firm had revenue of $74.42 million for the quarter, compared to analyst estimates of $69.84 million. During the same period in the previous year, the business earned $0.27 EPS. Sell-side analysts expect that KNOT Offshore Partners LP will post 0.15 earnings per share for the current year.

KNOT Offshore Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Monday, October 28th were given a $0.026 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.76%. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently 200.00%.

Institutional Investors Weigh In On KNOT Offshore Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in shares of KNOT Offshore Partners by 3.2% during the second quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock worth $11,498,000 after buying an additional 41,100 shares in the last quarter. Marshall Wace LLP boosted its holdings in KNOT Offshore Partners by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock valued at $1,023,000 after purchasing an additional 87,283 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in KNOT Offshore Partners in the second quarter worth approximately $229,000. Hedge funds and other 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.