KNOT Offshore Partners LP (NYSE:KNOP) Stake Decreased by OppenheimerFunds Inc.

OppenheimerFunds Inc. cut its position in shares of KNOT Offshore Partners LP (NYSE:KNOP) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,788,152 shares of the shipping company’s stock after selling 25,835 shares during the period. OppenheimerFunds Inc. owned 5.47% of KNOT Offshore Partners worth $33,957,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP grew its stake in KNOT Offshore Partners by 29.9% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,376,163 shares of the shipping company’s stock valued at $45,121,000 after buying an additional 547,500 shares during the last quarter. Green Square Capital LLC grew its stake in KNOT Offshore Partners by 4.9% in the 4th quarter. Green Square Capital LLC now owns 578,512 shares of the shipping company’s stock valued at $10,373,000 after buying an additional 27,130 shares during the last quarter. First Trust Advisors LP grew its stake in KNOT Offshore Partners by 23.3% in the 1st quarter. First Trust Advisors LP now owns 416,473 shares of the shipping company’s stock valued at $7,909,000 after buying an additional 78,634 shares during the last quarter. Morgan Stanley grew its stake in KNOT Offshore Partners by 5.8% in the 3rd quarter. Morgan Stanley now owns 288,194 shares of the shipping company’s stock valued at $6,254,000 after buying an additional 15,816 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware grew its stake in KNOT Offshore Partners by 24.7% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 76,900 shares of the shipping company’s stock valued at $1,379,000 after buying an additional 15,248 shares during the last quarter. Institutional investors own 34.83% of the company’s stock.

A number of brokerages recently commented on KNOP. TheStreet lowered shares of KNOT Offshore Partners from a “b-” rating to a “c” rating in a research note on Tuesday, May 28th. Zacks Investment Research lowered shares of KNOT Offshore Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 28th. Finally, Barclays reiterated a “hold” rating and issued a $20.00 price target on shares of KNOT Offshore Partners in a research note on Monday, March 18th.

Shares of NYSE:KNOP traded down $0.01 on Wednesday, reaching $19.05. 400 shares of the company’s stock were exchanged, compared to its average volume of 108,845. KNOT Offshore Partners LP has a twelve month low of $17.18 and a twelve month high of $22.75. The firm has a market cap of $622.82 million, a PE ratio of 7.58 and a beta of 0.60. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 1.50.

KNOT Offshore Partners (NYSE:KNOP) last announced its earnings results on Thursday, May 23rd. The shipping company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.29). KNOT Offshore Partners had a return on equity of 9.95% and a net margin of 22.81%. The business had revenue of $70.55 million for the quarter, compared to analyst estimates of $69.84 million. On average, research analysts expect that KNOT Offshore Partners LP will post 2.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, May 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.92%. KNOT Offshore Partners’s payout ratio is presently 82.87%.

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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.

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Institutional Ownership by Quarter for KNOT Offshore Partners (NYSE:KNOP)

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