Cubist Systematic Strategies LLC Takes $229,000 Position in KNOT Offshore Partners LP (NYSE:KNOP)

Cubist Systematic Strategies LLC purchased a new stake in KNOT Offshore Partners LP (NYSE:KNOP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 26,159 shares of the shipping company’s stock, valued at approximately $229,000. Cubist Systematic Strategies LLC owned about 0.08% of KNOT Offshore Partners as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of KNOP. ORG Partners LLC bought a new position in shares of KNOT Offshore Partners in the 1st quarter valued at $37,000. Renaissance Technologies LLC increased its stake in shares of KNOT Offshore Partners by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after purchasing an additional 41,100 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of KNOT Offshore Partners by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock valued at $1,023,000 after purchasing an additional 87,283 shares during the last quarter. Institutional investors own 26.82% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd.

KNOT Offshore Partners Trading Down 0.5 %

Shares of KNOP stock opened at $6.59 on Tuesday. The firm has a market capitalization of $224.36 million, a P/E ratio of -8.67 and a beta of 0.75. KNOT Offshore Partners LP has a twelve month low of $4.94 and a twelve month high of $9.11. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The stock’s fifty day simple moving average is $6.86 and its 200 day simple moving average is $6.60.

KNOT Offshore Partners (NYSE:KNOP) last announced its earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.25). The company had revenue of $74.42 million for the quarter, compared to analyst estimates of $69.84 million. KNOT Offshore Partners had a return on equity of 2.84% and a net margin of 0.66%. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, sell-side analysts predict that KNOT Offshore Partners LP will post 0.15 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, October 28th. KNOT Offshore Partners’s payout ratio is presently -13.16%.

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.