American Beacon Advisors Inc. Raises Stock Position in KNOT Offshore Partners LP $KNOP

American Beacon Advisors Inc. raised its holdings in KNOT Offshore Partners LP (NYSE:KNOP) by 182.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 503,895 shares of the shipping company’s stock after acquiring an additional 325,588 shares during the quarter. KNOT Offshore Partners comprises approximately 58.4% of American Beacon Advisors Inc.’s holdings, making the stock its largest position. American Beacon Advisors Inc.’s holdings in KNOT Offshore Partners were worth $5,215,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KNOP. Acadian Asset Management LLC acquired a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at $130,000. Russell Investments Group Ltd. lifted its holdings in KNOT Offshore Partners by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after purchasing an additional 4,836 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in KNOT Offshore Partners in the 2nd quarter worth approximately $68,000. Osaic Holdings Inc. boosted its position in KNOT Offshore Partners by 220.3% during the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after purchasing an additional 11,388 shares during the period. Finally, GSA Capital Partners LLP boosted its position in KNOT Offshore Partners by 11.5% during the third quarter. GSA Capital Partners LLP now owns 48,075 shares of the shipping company’s stock worth $424,000 after purchasing an additional 4,957 shares during the period. 26.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KNOP. Weiss Ratings downgraded KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Fearnley Fonds upgraded KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Wall Street Zen cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, B. Riley Financial upgraded KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, KNOT Offshore Partners presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

KNOT Offshore Partners Stock Down 0.0%

KNOP opened at $10.73 on Tuesday. The firm has a market cap of $361.07 million, a price-to-earnings ratio of 19.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.24 and a current ratio of 0.25. The firm’s 50-day simple moving average is $10.65 and its 200-day simple moving average is $10.48. KNOT Offshore Partners LP has a twelve month low of $6.16 and a twelve month high of $11.78.

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

KNOT Offshore Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, April 27th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, April 27th. This is a boost from KNOT Offshore Partners’s previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a dividend yield of 1.9%. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently 37.04%.

KNOT Offshore Partners Company Profile

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.