Zacks Investment Research lowered shares of KNOT Offshore Partners LP (NYSE:KNOP) from a hold rating to a sell rating in a research note issued to investors on Thursday.

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. “

KNOP has been the topic of a number of other research reports. BidaskClub upgraded shares of KNOT Offshore Partners from a sell rating to a hold rating in a report on Wednesday, September 27th. ValuEngine cut shares of KNOT Offshore Partners from a strong-buy rating to a buy rating in a report on Tuesday, September 26th.

Shares of KNOT Offshore Partners (NYSE:KNOP) traded up $0.10 during trading on Thursday, reaching $21.00. 74,190 shares of the company’s stock were exchanged, compared to its average volume of 90,947. The company has a current ratio of 0.48, a quick ratio of 0.46 and a debt-to-equity ratio of 1.63. The stock has a market cap of $623.58, a P/E ratio of 9.09 and a beta of 0.77. KNOT Offshore Partners has a fifty-two week low of $20.60 and a fifty-two week high of $24.67.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, November 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 9.90%. The ex-dividend date is Wednesday, November 1st. KNOT Offshore Partners’s payout ratio is 87.03%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its position in shares of KNOT Offshore Partners by 4.8% during the 2nd quarter. Royal Bank of Canada now owns 8,775 shares of the shipping company’s stock valued at $201,000 after purchasing an additional 405 shares during the last quarter. California Public Employees Retirement System increased its holdings in KNOT Offshore Partners by 1.6% in the 1st quarter. California Public Employees Retirement System now owns 32,400 shares of the shipping company’s stock worth $755,000 after acquiring an additional 500 shares in the last quarter. Naples Global Advisors LLC grew its holdings in KNOT Offshore Partners by 55.9% during the 2nd quarter. Naples Global Advisors LLC now owns 15,275 shares of the shipping company’s stock valued at $351,000 after buying an additional 5,475 shares in the last quarter. Green Square Capital LLC grew its holdings in KNOT Offshore Partners by 1.8% during the 2nd quarter. Green Square Capital LLC now owns 372,966 shares of the shipping company’s stock valued at $8,560,000 after buying an additional 6,554 shares in the last quarter. Finally, Global X Management Co. LLC purchased a new stake in KNOT Offshore Partners during the 2nd quarter valued at approximately $162,000. Institutional investors and hedge funds own 49.78% 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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