KNOT Offshore Partners (NYSE:KNOP) Shares Cross Below 200-Day Moving Average - Should You Sell?

Key Points

• KNOP shares fell below their 200-day moving average of $10.50, trading as low as $10.41 before recovering to about $10.67. The technical move may signal weakness, though the stock’s 50-day average is close at $10.45.
• Analyst sentiment is broadly positive but cautious: KNOP has an average “Moderate Buy” rating and a consensus price target of $14.00, compared with its recent price near $10.67.
• The partnership increased its quarterly dividend from $0.05 to $0.075 per share, implying an annualized payout of $0.30 and a yield of roughly 2.8%. However, its latest quarterly EPS of $0.08 missed the $0.17 consensus estimate.

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.50 and traded as low as $10.41. KNOT Offshore Partners shares last traded at $10.6690, with a volume of 33,838 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on KNOP. Weiss Ratings reissued a "hold (c)" rating on shares of KNOT Offshore Partners in a report on Wednesday, July 29th. Wall Street Zen upgraded KNOT Offshore Partners from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. Finally, Zacks Research raised KNOT Offshore Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

KNOT Offshore Partners Trading Down 0.1%

The firm has a market capitalization of $359.12 million, a P/E ratio of 19.76 and a beta of -0.05. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.93. The stock has a 50 day simple moving average of $10.45 and a 200-day simple moving average of $10.50.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). KNOT Offshore Partners had a return on equity of 6.36% and a net margin of 4.92%.The business had revenue of $92.01 million for the quarter, compared to analysts' expectations of $90.35 million. On average, equities research analysts forecast that KNOT Offshore Partners LP will post 0.09 EPS for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, July 27th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, July 27th. This is a positive change from KNOT Offshore Partners's previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 2.8%. KNOT Offshore Partners's dividend payout ratio is 55.56%.

Insider Transactions at KNOT Offshore Partners

In other news, Director Trygve Seglem bought 1,250,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $25,000,000.00. Following the completion of the transaction, the director owned 1,458,333 shares of the company's stock, valued at approximately $29,166,660. This represents a 600.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. boosted its stake in shares of KNOT Offshore Partners by 71.8% during the 2nd quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company's stock worth $8,638,000 after purchasing an additional 361,659 shares during the period. Royal Bank of Canada purchased a new stake in KNOT Offshore Partners in the 1st quarter worth about $25,000. Renaissance Technologies LLC raised its position in KNOT Offshore Partners by 8.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company's stock worth $13,461,000 after purchasing an additional 108,400 shares during the period. Walleye Capital LLC bought a new stake in KNOT Offshore Partners in the first quarter worth about $259,000. Finally, Janney Montgomery Scott LLC bought a new stake in KNOT Offshore Partners in the first quarter worth about $643,000. Hedge funds and other institutional investors own 26.82% of the company's stock.

KNOT Offshore Partners Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source