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

Key Points

• KNOT Offshore Partners shares fell below their 200-day moving average, trading as low as $10.17 versus the $10.62 average, and last changed hands near $10.20.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $14.00, despite mixed ratings ranging from Strong Buy to Hold.
• The company raised its quarterly dividend to $0.10 per share, equivalent to a $0.40 annualized payout and a 3.9% yield; institutional investors own 26.82% of the stock.

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report)'s share price passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $10.62 and traded as low as $10.17. KNOT Offshore Partners shares last traded at $10.2010, with a volume of 35,281 shares trading hands.

Wall Street Analysts Forecast Growth

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

KNOT Offshore Partners Trading Down 0.9%

The company has a 50 day simple moving average of $10.77 and a two-hundred day simple moving average of $10.62. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.33 and a current ratio of 0.34. The firm has a market cap of $343.37 million, a PE ratio of 23.18 and a beta of -0.02.

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

KNOT Offshore Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 26th will be given a $0.10 dividend. This is an increase from KNOT Offshore Partners's previous quarterly dividend of $0.0750. This represents a $0.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, October 26th. KNOT Offshore Partners's payout ratio is currently 68.18%.

Hedge Funds Weigh In On KNOT Offshore Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada acquired a new stake in KNOT Offshore Partners during the 1st quarter valued at approximately $25,000. Walleye Capital LLC purchased a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at $259,000. Janney Montgomery Scott LLC purchased a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at $643,000. Alpine Global Management LLC acquired a new stake in shares of KNOT Offshore Partners in the fourth quarter worth $1,294,000. Finally, American Beacon Advisors Inc. increased its stake 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 worth $8,638,000 after acquiring an additional 361,659 shares during the period. Institutional investors and hedge funds own 26.82% of the company's stock.

About KNOT Offshore Partners

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.

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