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

Key Points

• KNOP shares fell below their 200-day moving average, trading as low as $9.79 versus the $10.62 average, and last changing hands at $9.88.
• Analyst sentiment remains moderately positive: the stock has a consensus “Moderate Buy” rating and a $14 average price target, compared with its current price.
• KNOT Offshore Partners raised its quarterly dividend to $0.10, or $0.40 annually, implying a 4.0% yield; the company reported $0.05 in quarterly EPS on $96.78 million in revenue.

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $10.62 and traded as low as $9.79. KNOT Offshore Partners shares last traded at $9.88, with a volume of 43,602 shares.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KNOP. Zacks Research raised KNOT Offshore Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Wall Street Zen raised shares of KNOT Offshore Partners from a "sell" rating to a "hold" rating in a research note on Sunday, September 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of KNOT Offshore Partners in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, KNOT Offshore Partners presently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

KNOT Offshore Partners Stock Up 0.3%

The company has a debt-to-equity ratio of 1.10, a current ratio of 0.34 and a quick ratio of 0.33. The company has a market capitalization of $332.56 million, a price-to-earnings ratio of 22.46 and a beta of -0.02. The firm's 50-day simple moving average is $10.69 and its two-hundred day simple moving average is $10.62.

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

KNOT Offshore Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 26th will be issued a $0.10 dividend. The ex-dividend date is Monday, October 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from KNOT Offshore Partners's previous quarterly dividend of $0.0750. KNOT Offshore Partners's payout ratio is currently 68.18%.

Hedge Funds Weigh In On KNOT Offshore Partners

Several hedge funds have recently bought and sold shares of the company. American Beacon Advisors Inc. boosted its position in KNOT Offshore Partners by 71.8% during the second 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 in the last quarter. Royal Bank of Canada acquired a new stake in KNOT Offshore Partners in the first quarter valued at $25,000. Renaissance Technologies LLC increased its position in shares of KNOT Offshore Partners by 8.8% in the first quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company's stock valued at $13,461,000 after buying an additional 108,400 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of KNOT Offshore Partners in the first quarter valued at $259,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of KNOT Offshore Partners in the first quarter valued at $643,000. 26.82% of the stock is owned by hedge funds and other institutional investors.

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 to onshore terminals, refineries, or other designated locations, providing an essential link in the offshore oil supply chain.

The partnership typically places its vessels under long-term or medium-term charter contracts with energy companies and offshore producers. Its fleet is designed for shuttle-tanker operations, which can include dynamically positioning near offshore installations and repeatedly transporting crude oil between production sites and receiving terminals.

KNOT Offshore Partners was formed in 2013 and is sponsored by Knutsen NYK Offshore Tankers AS, a joint venture associated with Knutsen OAS Shipping and NYK Line.

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.