BidaskClub cut shares of KNOT Offshore Partners LP (NYSE:KNOP) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.
Separately, Zacks Investment Research downgraded KNOT Offshore Partners from a hold rating to a sell rating in a research note on Wednesday, July 19th.
KNOT Offshore Partners (KNOP) opened at 23.40 on Tuesday. KNOT Offshore Partners has a 52 week low of $18.25 and a 52 week high of $24.67. The stock has a market capitalization of $707.90 million, a price-to-earnings ratio of 10.64 and a beta of 0.78. The firm has a 50-day moving average of $23.01 and a 200 day moving average of $22.66.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Wednesday, August 2nd were given a $0.52 dividend. The ex-dividend date was Monday, July 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 8.89%. KNOT Offshore Partners’s dividend payout ratio is currently 87.03%.
Several hedge funds have recently made changes to their positions in the company. Global X Management Co. LLC purchased a new stake in shares of KNOT Offshore Partners during the second quarter worth approximately $162,000. Royal Bank of Canada increased its stake in shares of KNOT Offshore Partners by 4.8% in the second quarter. Royal Bank of Canada now owns 8,775 shares of the shipping company’s stock worth $201,000 after buying an additional 405 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of KNOT Offshore Partners during the first quarter worth approximately $215,000. KCG Holdings Inc. purchased a new stake in shares of KNOT Offshore Partners during the first quarter worth approximately $223,000. Finally, Naples Global Advisors LLC increased its stake in shares of KNOT Offshore Partners by 55.9% in the second quarter. Naples Global Advisors LLC now owns 15,275 shares of the shipping company’s stock worth $351,000 after buying an additional 5,475 shares in the last quarter. Institutional investors own 51.44% 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.
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