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

KNOT Offshore Partners LP (NYSE:KNOP) was the recipient of a large decrease in short interest in the month of 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. Based on an average daily volume of 87,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

Several brokerages recently weighed in on KNOP. Zacks Investment Research upgraded KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 24th. TheStreet cut KNOT Offshore Partners from a “b-” rating to a “c” rating in a report on Tuesday, May 28th.

KNOT Offshore Partners stock traded up $0.34 during trading hours on Friday, hitting $18.75. The stock had a trading volume of 60,600 shares, compared to its average volume of 104,251. The company has a 50-day moving average of $19.37 and a two-hundred day moving average of $19.16. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 1.50. The company has a market cap of $614.25 million, a PE ratio of 7.47 and a beta of 0.57. KNOT Offshore Partners has a fifty-two week low of $17.18 and a fifty-two week high of $22.60.

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

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, July 26th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $2.08 annualized dividend and a yield of 11.09%. KNOT Offshore Partners’s dividend payout ratio (DPR) is 82.87%.

A number of institutional investors have recently bought and sold shares of KNOP. Mondrian Investment Partners LTD acquired a new position in shares of KNOT Offshore Partners in the 2nd quarter worth approximately $50,000. AllSquare Wealth Management LLC raised its holdings in shares of KNOT Offshore Partners by 25.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,000 shares of the shipping company’s stock worth $95,000 after buying an additional 1,000 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of KNOT Offshore Partners in the 4th quarter worth approximately $197,000. Millennium Management LLC acquired a new position in shares of KNOT Offshore Partners in the 4th quarter worth approximately $257,000. Finally, AJO LP acquired a new position in shares of KNOT Offshore Partners in the 1st quarter worth approximately $279,000. 34.53% of the stock is owned by hedge funds and other institutional investors.

About KNOT Offshore Partners

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.

Further Reading: Fundamental Analysis and Individual Investors

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