KNOT Offshore Partners (NYSE:KNOP) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Shares of KNOT Offshore Partners LP (NYSE:KNOP) 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 changing hands.

Analysts Set New Price Targets

Several equities research analysts have 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 research report on Sunday, September 6th. Weiss Ratings restated a “hold (c)” rating on shares of KNOT Offshore Partners in a report on Wednesday, July 29th. Finally, Zacks Research raised shares of KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

KNOT Offshore Partners Stock Performance

The stock’s fifty day moving average is $10.76 and its two-hundred day moving average is $10.62. The firm has a market capitalization of $330.88 million, a price-to-earnings ratio of 22.34 and a beta of -0.02. 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) last posted 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 company had revenue of $96.78 million for the quarter. Analysts forecast that KNOT Offshore Partners LP will post 0.22 earnings per share for the current year.

KNOT Offshore Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 26th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, October 26th. 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 dividend yield of 4.1%. KNOT Offshore Partners’s dividend payout ratio is 68.18%.

Institutional Trading of KNOT Offshore Partners

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake 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 during the last quarter. American Beacon Advisors Inc. increased its position in shares of KNOT Offshore Partners by 71.8% in 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 last quarter. Alpine Global Management LLC bought a new stake in shares of KNOT Offshore Partners in the 4th quarter worth about $1,294,000. Janney Montgomery Scott LLC bought a new stake in shares of KNOT Offshore Partners in the 1st quarter worth about $643,000. Finally, Walleye Capital LLC acquired a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at about $259,000. 26.82% of the stock is owned by institutional investors and hedge funds.

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.