Short Interest in KNOT Offshore Partners LP (NYSE:KNOP) Declines By 13.6%

KNOT Offshore Partners LP (NYSE:KNOP) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 31,700 shares, a decrease of 13.6% from the June 30th total of 36,700 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 87,000 shares, the short-interest ratio is presently 0.4 days.

Several hedge funds and other institutional investors have recently bought and sold shares of KNOP. Mondrian Investment Partners LTD purchased a new stake in shares of KNOT Offshore Partners in the second quarter worth approximately $50,000. AllSquare Wealth Management LLC raised its position in KNOT Offshore Partners by 25.0% during the first quarter. AllSquare Wealth Management LLC now owns 5,000 shares of the shipping company’s stock valued at $95,000 after acquiring an additional 1,000 shares in the last quarter. Stifel Financial Corp bought a new position in KNOT Offshore Partners during the fourth quarter valued at approximately $197,000. Millennium Management LLC bought a new position in KNOT Offshore Partners during the fourth quarter valued at approximately $257,000. Finally, AJO LP bought a new position in KNOT Offshore Partners during the first quarter valued at approximately $279,000. 34.53% of the stock is owned by institutional investors and hedge funds.

KNOP stock traded up $0.25 during mid-day trading on Friday, reaching $18.66. 1,378 shares of the stock traded hands, compared to its average volume of 100,128. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.50. KNOT Offshore Partners has a 52-week low of $17.18 and a 52-week high of $22.60. The company has a market cap of $604.44 million, a P/E ratio of 7.43 and a beta of 0.57. The stock’s fifty day moving average is $19.38 and its 200-day moving average is $19.17.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings data on Thursday, May 23rd. The shipping company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). KNOT Offshore Partners had a net margin of 22.81% and a return on equity of 9.95%. The firm had revenue of $70.55 million for the quarter, compared to analysts’ expectations of $69.84 million.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, July 26th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 11.15%. The ex-dividend date of this dividend was Thursday, July 25th. KNOT Offshore Partners’s dividend payout ratio (DPR) is 82.87%.

A number of equities analysts recently issued reports on KNOP shares. TheStreet lowered shares of KNOT Offshore Partners from a “b-” rating to a “c” rating in a research report on Tuesday, May 28th. Zacks Investment Research upgraded shares of KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

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