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

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $10.60 and traded as low as $10.60. KNOT Offshore Partners shares last traded at $10.67, with a volume of 30,013 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on KNOP shares. Wall Street Zen raised shares of KNOT Offshore Partners from a "sell" rating to a "hold" rating in a report on Sunday, September 6th. Zacks Research raised KNOT Offshore Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of KNOT Offshore Partners in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, KNOT Offshore Partners currently has an average rating of "Moderate Buy" and an average target price of $14.00.

KNOT Offshore Partners Trading Down 1.1%

The firm has a market cap of $359.15 million, a price-to-earnings ratio of 24.25 and a beta of -0.05. The business has a fifty day moving average of $10.78 and a two-hundred day moving average of $10.60. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.33 and a current ratio of 0.34.

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The shipping company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $96.78 million during the quarter. KNOT Offshore Partners had a return on equity of 5.73% and a net margin of 3.90%. As a group, equities analysts expect that KNOT Offshore Partners LP will post 0.22 earnings per share for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, July 27th were paid a dividend of $0.0750 per share. This is a boost from KNOT Offshore Partners's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, July 27th. This represents a $0.30 annualized dividend and a dividend yield of 2.8%. KNOT Offshore Partners's dividend payout ratio is presently 68.18%.

Institutional Investors Weigh In On KNOT Offshore Partners

A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in KNOT Offshore Partners by 8.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company's stock valued at $13,461,000 after acquiring an additional 108,400 shares in the last quarter. American Beacon Advisors Inc. lifted its holdings in shares of KNOT Offshore Partners by 71.8% in the second quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company's stock valued at $8,638,000 after purchasing an additional 361,659 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of KNOT Offshore Partners in the fourth quarter valued at approximately $1,294,000. Janney Montgomery Scott LLC acquired a new stake in shares of KNOT Offshore Partners in the first quarter valued at approximately $643,000. Finally, Walleye Capital LLC purchased a new position in shares of KNOT Offshore Partners during the 1st quarter worth approximately $259,000. 26.82% of the stock is owned by institutional investors and hedge funds.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP NYSE: KNOP is a publicly traded master limited partnership that owns and operates shuttle tankers. These specialized vessels transport crude oil from offshore production facilities, such as floating production, storage and offloading units, to onshore terminals, refineries, or other destinations.

The partnership's fleet is primarily employed under long-term charter contracts with energy companies and offshore producers. Its shuttle tankers are designed for repeated loading and transportation of crude oil in offshore environments and may use dynamic positioning and other specialized systems to safely connect with production and storage vessels.

KNOT Offshore Partners was established in 2013 and is sponsored by Knutsen NYK Offshore Tankers AS, a company associated with the Knutsen shipping group and NYK Line.

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