KNOT Offshore Partners LP (NYSE:KNOP) Given Consensus Rating of “Hold” by Brokerages

KNOT Offshore Partners LP (NYSE:KNOP) has been given an average rating of “Hold” by the five analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $14.00.

Several brokerages have recently issued reports on KNOP. Weiss Ratings downgraded shares of KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Fearnley Fonds raised KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Zacks Research downgraded KNOT Offshore Partners from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Finally, Wall Street Zen lowered KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th.

Insider Buying and Selling at KNOT Offshore Partners

In other news, Director Trygve Seglem purchased 1,250,000 shares of KNOT Offshore Partners stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $25,000,000.00. Following the completion of the acquisition, the director owned 1,458,333 shares in the company, valued at approximately $29,166,660. This trade represents a 600.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On KNOT Offshore Partners

Hedge funds have recently added to or reduced their stakes in the business. American Beacon Advisors Inc. grew its holdings in KNOT Offshore Partners by 182.6% during the 4th quarter. American Beacon Advisors Inc. now owns 503,895 shares of the shipping company’s stock worth $5,215,000 after acquiring an additional 325,588 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in KNOT Offshore Partners in the 1st quarter valued at approximately $643,000. Alpine Global Management LLC bought a new position in shares of KNOT Offshore Partners during the fourth quarter valued at $1,294,000. Fifth Lane Capital LP bought a new position in shares of KNOT Offshore Partners during the fourth quarter valued at $167,000. Finally, ING Groep NV acquired a new position in shares of KNOT Offshore Partners during the fourth quarter worth $205,000. 26.82% of the stock is currently owned by institutional investors and hedge funds.

KNOT Offshore Partners Trading Down 1.7%

Shares of KNOT Offshore Partners stock opened at $10.25 on Tuesday. The firm’s 50 day moving average is $10.64 and its 200 day moving average is $10.50. The firm has a market capitalization of $345.12 million, a PE ratio of 18.99 and a beta of -0.05. KNOT Offshore Partners has a 1 year low of $6.76 and a 1 year high of $11.78. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.93.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.08 EPS for the quarter, missing the consensus estimate 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. Equities research analysts forecast that KNOT Offshore Partners will post 0.09 earnings per share for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 27th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from KNOT Offshore Partners’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.9%. KNOT Offshore Partners’s payout ratio is 55.56%.

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.