KNOT Offshore Partners LP (NYSE:KNOP) Short Interest Down 13.7% in February

KNOT Offshore Partners LP (NYSE:KNOP) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 200,400 shares, a drop of 13.7% from the February 13th total of 232,200 shares. Based on an average trading volume of 80,700 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.8% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, StockNews.com downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Tuesday.

KNOT Offshore Partners Stock Performance

Shares of NYSE KNOP traded up $0.07 during mid-day trading on Wednesday, hitting $5.63. The company had a trading volume of 39,232 shares, compared to its average volume of 86,740. The stock has a market cap of $192.92 million, a price-to-earnings ratio of -13.08 and a beta of 0.70. KNOT Offshore Partners has a 12 month low of $4.94 and a 12 month high of $9.11. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42. The firm’s 50 day simple moving average is $5.66 and its two-hundred day simple moving average is $6.02.

KNOT Offshore Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Monday, January 27th were paid a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Monday, January 27th. KNOT Offshore Partners’s payout ratio is currently -23.26%.

Institutional Trading of KNOT Offshore Partners

Several hedge funds have recently added to or reduced their stakes in the business. 683 Capital Management LLC raised its stake in shares of KNOT Offshore Partners by 2.5% in the 4th quarter. 683 Capital Management LLC now owns 1,610,000 shares of the shipping company’s stock worth $8,774,000 after buying an additional 39,800 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of KNOT Offshore Partners by 31.9% in the 4th quarter. JPMorgan Chase & Co. now owns 583,545 shares of the shipping company’s stock worth $3,180,000 after acquiring an additional 141,213 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of KNOT Offshore Partners by 8.0% in the 4th quarter. Two Sigma Advisers LP now owns 300,800 shares of the shipping company’s stock worth $1,639,000 after acquiring an additional 22,300 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of KNOT Offshore Partners by 19.0% during the fourth quarter. Marshall Wace LLP now owns 203,999 shares of the shipping company’s stock valued at $1,112,000 after buying an additional 32,616 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of KNOT Offshore Partners by 1.3% during the fourth quarter. Two Sigma Investments LP now owns 189,461 shares of the shipping company’s stock valued at $1,033,000 after buying an additional 2,418 shares in the last quarter. Institutional investors own 26.82% of the company’s stock.

About KNOT Offshore Partners

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.