Zacks Investment Research downgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a hold rating to a sell rating in a report released on Friday morning.

According to Zacks, “KNOT Offshore Partners LP is engaged in owning, acquiring and operating shuttle tankers, designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries. KNOT Offshore Partners LP is based in Aberdeen, the United Kingdom. “

A number of other research analysts have also recently issued reports on KNOP. BidaskClub upgraded shares of KNOT Offshore Partners from a sell rating to a hold rating in a report on Friday, August 11th. ValuEngine upgraded shares of KNOT Offshore Partners from a buy rating to a strong-buy rating in a report on Friday, September 1st.

Shares of KNOT Offshore Partners (KNOP) traded down $0.15 during midday trading on Friday, hitting $19.90. 85,556 shares of the stock were exchanged, compared to its average volume of 163,710. The firm has a market capitalization of $655.52, a PE ratio of 8.72 and a beta of 0.70. KNOT Offshore Partners has a 52-week low of $19.15 and a 52-week high of $24.67. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.48 and a quick ratio of 0.46.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Thursday, November 2nd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 10.45%. The ex-dividend date of this dividend was Wednesday, November 1st. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently 87.03%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in KNOT Offshore Partners by 4.8% during the second quarter. Royal Bank of Canada now owns 8,775 shares of the shipping company’s stock worth $201,000 after purchasing an additional 405 shares during the last quarter. California Public Employees Retirement System boosted its holdings in KNOT Offshore Partners by 1.6% during the first quarter. California Public Employees Retirement System now owns 32,400 shares of the shipping company’s stock worth $755,000 after purchasing an additional 500 shares during the last quarter. Green Square Capital LLC boosted its holdings in KNOT Offshore Partners by 1.8% during the second quarter. Green Square Capital LLC now owns 372,966 shares of the shipping company’s stock worth $8,560,000 after purchasing an additional 6,554 shares during the last quarter. Global X Management Co. LLC purchased a new position in KNOT Offshore Partners during the second quarter worth about $162,000. Finally, Texas Yale Capital Corp. purchased a new position in KNOT Offshore Partners during the third quarter worth about $200,000. Institutional investors and hedge funds own 43.83% of the company’s stock.

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KNOT Offshore Partners Company Profile

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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