KNOT Offshore Partners LP (NYSE:KNOP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have earned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.00.

A number of analysts have weighed in on KNOP shares. Wall Street Zen cut KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings cut KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Fearnley Fonds upgraded KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th. Finally, B. Riley Financial upgraded KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, March 20th.

Insider Transactions at KNOT Offshore Partners

In other news, Director Trygve Seglem purchased 1,250,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $25,000,000.00. Following the completion of the acquisition, the director directly owned 1,458,333 shares in the company, valued at approximately $29,166,660. The trade was a 600.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On KNOT Offshore Partners

Several large investors have recently bought and sold shares of the business. Royal Bank of Canada acquired a new stake in KNOT Offshore Partners during the 1st quarter worth $25,000. Russell Investments Group Ltd. grew its holdings in KNOT Offshore Partners by 115.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after acquiring an additional 4,836 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in KNOT Offshore Partners during the 2nd quarter worth $68,000. Osaic Holdings Inc. grew its holdings in KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after acquiring an additional 11,388 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in KNOT Offshore Partners during the 4th quarter worth $125,000. 26.82% of the stock is currently owned by institutional investors and hedge funds.

KNOT Offshore Partners Stock Performance

Shares of NYSE:KNOP opened at $10.11 on Friday. The business’s fifty day moving average price is $10.74 and its two-hundred day moving average price is $10.51. KNOT Offshore Partners has a fifty-two week low of $6.16 and a fifty-two week high of $11.78. The stock has a market capitalization of $340.30 million, a price-to-earnings ratio of 18.72 and a beta of -0.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.24.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). KNOT Offshore Partners had a net margin of 4.92% and a return on equity of 6.36%. The company had revenue of $92.01 million during the quarter, compared to the consensus estimate of $90.35 million. As a group, analysts predict that KNOT Offshore Partners will post 0.14 EPS for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, April 27th were issued a $0.05 dividend. This is a positive change from KNOT Offshore Partners’s previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, April 27th. KNOT Offshore Partners’s dividend payout ratio (DPR) is 37.04%.

About KNOT Offshore Partners

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.