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

KNOT Offshore Partners LP (NYSE:KNOP) has been given an average recommendation of “Hold” by the five brokerages that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.

A number of equities analysts have issued reports on KNOP shares. Zacks Research upgraded KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Wall Street Zen downgraded KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Weiss Ratings reissued a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Thursday, January 22nd. Alliance Global Partners reissued a “neutral” rating on shares of KNOT Offshore Partners in a report on Monday, December 8th. Finally, Fearnley Fonds downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd.

KNOT Offshore Partners Stock Performance

Shares of NYSE KNOP opened at $10.68 on Tuesday. The company has a market capitalization of $364.24 million, a PE ratio of 6.89 and a beta of -0.14. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.27 and a current ratio of 0.28. The company’s fifty day moving average price is $10.43 and its 200 day moving average price is $9.10. KNOT Offshore Partners has a 1 year low of $5.29 and a 1 year high of $11.15.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Thursday, December 4th. The shipping company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.32. KNOT Offshore Partners had a net margin of 14.69% and a return on equity of 9.00%. The business had revenue of $96.87 million during the quarter, compared to the consensus estimate of $88.12 million. On average, research analysts predict that KNOT Offshore Partners will post 0.12 earnings per share for the current year.

KNOT Offshore Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Monday, January 26th will be paid a $0.026 dividend. The ex-dividend date of this dividend is Monday, January 26th. This represents a $0.10 dividend on an annualized basis and a yield of 1.0%. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently 6.45%.

Institutional Trading of KNOT Offshore Partners

Several large investors have recently made changes to their positions in KNOP. FNY Investment Advisers LLC lifted its holdings in KNOT Offshore Partners by 2.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 143,420 shares of the shipping company’s stock valued at $897,000 after purchasing an additional 3,340 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of KNOT Offshore Partners by 220.3% in the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after buying an additional 11,388 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of KNOT Offshore Partners in the second quarter worth about $68,000. Acadian Asset Management LLC purchased a new position in shares of KNOT Offshore Partners in the first quarter worth about $130,000. Finally, Russell Investments Group Ltd. boosted its position in KNOT Offshore Partners by 115.0% during the second 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 last quarter. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

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.