Zacks Investment Research lowered shares of KNOT Offshore Partners LP (NYSE:KNOP) from a hold rating to a sell rating in a research note published on Thursday morning.
According to Zacks, “KNOT Offshore Partners LP is engaged in owning, acquiring and operating shuttle tankers, designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. KNOT Offshore Partners LP is based in Aberdeen, the United Kingdom. “
KNOP has been the topic of several other reports. BidaskClub raised shares of KNOT Offshore Partners from a sell rating to a hold rating in a report on Friday, August 11th. ValuEngine cut KNOT Offshore Partners from a strong-buy rating to a buy rating in a report on Tuesday, September 26th.
KNOT Offshore Partners (NYSE:KNOP) traded down $0.15 on Thursday, hitting $20.90. The stock had a trading volume of 190,600 shares, compared to its average volume of 148,709. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.78 and a current ratio of 0.48. KNOT Offshore Partners has a 52 week low of $20.60 and a 52 week high of $24.67. The firm has a market capitalization of $683.30, a PE ratio of 9.09 and a beta of 0.77.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Thursday, November 2nd will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 9.95%. KNOT Offshore Partners’s payout ratio is presently 87.03%.
A number of institutional investors have recently modified their holdings of KNOP. Global X Management Co. LLC bought a new stake in KNOT Offshore Partners in the 2nd quarter valued at about $162,000. Texas Yale Capital Corp. bought a new position in shares of KNOT Offshore Partners during the third quarter worth approximately $200,000. Royal Bank of Canada increased its holdings in shares of KNOT Offshore Partners by 4.8% during the second quarter. Royal Bank of Canada now owns 8,775 shares of the shipping company’s stock worth $201,000 after purchasing an additional 405 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of KNOT Offshore Partners in the first quarter valued at approximately $215,000. Finally, KCG Holdings Inc. bought a new stake in shares of KNOT Offshore Partners in the first quarter valued at approximately $223,000. Institutional investors and hedge funds own 49.82% of the company’s stock.
About KNOT Offshore Partners
KNOT Offshore Partners LP (KNOT Offshore Partners or the Partnership), owns, operates and acquires shuttle tankers under long-term charters. The Partnership’s vessels in its fleet are chartered to Statoil ASA (Statoil), Petrobras Transporte SA (Transpetro), Repsol Sinopec Brasil, SA (Repsol), Royal Dutch Shell plc, ExxonMobil, and Eni Trading and Shipping S.p.A.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KNOT Offshore Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KNOT Offshore Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.