KNOT Offshore Partners (NYSE:KNOP) Lowered to “Sell” at ValuEngine

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ValuEngine lowered shares of KNOT Offshore Partners (NYSE:KNOP) from a hold rating to a sell rating in a research note released on Monday morning, ValuEngine reports.

A number of other analysts have also commented on KNOP. Barclays reduced their price target on shares of KNOT Offshore Partners from $22.00 to $21.00 and set an equal weight rating for the company in a research note on Friday, August 30th. TheStreet lowered shares of KNOT Offshore Partners from a c rating to a d+ rating in a research note on Wednesday, September 11th. BTIG Research started coverage on shares of KNOT Offshore Partners in a research note on Monday, October 21st. They issued a buy rating and a $24.00 price target for the company. Finally, Zacks Investment Research upgraded shares of KNOT Offshore Partners from a strong sell rating to a hold rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. KNOT Offshore Partners currently has a consensus rating of Hold and an average price target of $21.67.

Shares of KNOP stock traded down $0.03 during trading hours on Monday, reaching $19.09. The company had a trading volume of 55,482 shares, compared to its average volume of 94,530. The business has a fifty day moving average price of $19.34 and a 200-day moving average price of $19.26. KNOT Offshore Partners has a one year low of $17.18 and a one year high of $20.69. The firm has a market cap of $623.76 million, a PE ratio of 12.57 and a beta of 0.55. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.47 and a current ratio of 0.49.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings results on Wednesday, August 28th. The shipping company reported $0.25 EPS for the quarter. KNOT Offshore Partners had a net margin of 17.94% and a return on equity of 7.95%. The firm had revenue of $70.92 million during the quarter, compared to analyst estimates of $70.10 million.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.90%. The ex-dividend date is Wednesday, October 30th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mondrian Investment Partners LTD purchased a new position in shares of KNOT Offshore Partners in the second quarter worth approximately $50,000. Advantage Investment Management LLC boosted its holdings in shares of KNOT Offshore Partners by 5.9% in the second quarter. Advantage Investment Management LLC now owns 14,729 shares of the shipping company’s stock worth $281,000 after buying an additional 823 shares during the last quarter. Arrow Investment Advisors LLC boosted its holdings in shares of KNOT Offshore Partners by 7.2% in the third quarter. Arrow Investment Advisors LLC now owns 22,664 shares of the shipping company’s stock worth $433,000 after buying an additional 1,516 shares during the last quarter. Naples Global Advisors LLC boosted its holdings in shares of KNOT Offshore Partners by 8.4% in the second quarter. Naples Global Advisors LLC now owns 37,280 shares of the shipping company’s stock worth $712,000 after buying an additional 2,900 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of KNOT Offshore Partners by 150.6% in the second quarter. Russell Investments Group Ltd. now owns 39,600 shares of the shipping company’s stock worth $756,000 after buying an additional 23,800 shares during the last quarter. 34.93% of the stock is currently owned by institutional investors.

About KNOT Offshore Partners

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

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