KNOT Offshore Partners LP (NYSE:KNOP) Receives $14.00 Average PT from Brokerages

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

A number of equities analysts have commented on KNOP shares. Fearnley Fonds upgraded shares of KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. 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. Wall Street Zen downgraded shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, B. Riley Financial upgraded shares of KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Friday, March 20th.

Insider Activity

In related news, Director Trygve Seglem acquired 1,250,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were purchased 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 $29,166,660. The trade was a 600.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On KNOT Offshore Partners

Hedge funds have recently modified their holdings of the stock. American Beacon Advisors Inc. increased its holdings in shares of KNOT Offshore Partners by 182.6% during the fourth quarter. American Beacon Advisors Inc. now owns 503,895 shares of the shipping company’s stock valued at $5,215,000 after acquiring an additional 325,588 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of 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 valued at $424,000 after acquiring an additional 4,957 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of KNOT Offshore Partners by 8.8% during the first quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company’s stock valued at $13,461,000 after acquiring an additional 108,400 shares in the last quarter. Walleye Capital LLC acquired a new position in KNOT Offshore Partners in the 1st quarter worth approximately $259,000. Finally, Cetera Investment Advisers acquired a new position in KNOT Offshore Partners in the 4th quarter worth approximately $125,000. Institutional investors and hedge funds own 26.82% of the company’s stock.

KNOT Offshore Partners Stock Performance

Shares of KNOT Offshore Partners stock opened at $9.97 on Friday. The company has a market capitalization of $335.56 million, a PE ratio of 18.46 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 company has a 50-day simple moving average of $10.73 and a two-hundred day simple moving average of $10.50. KNOT Offshore Partners has a one year low of $6.16 and a one year high of $11.78.

KNOT Offshore Partners (NYSE:KNOP) last announced its 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 the consensus estimate of $90.35 million. KNOT Offshore Partners had a return on equity of 6.36% and a net margin of 4.92%. Research analysts expect that KNOT Offshore Partners will post 0.14 EPS for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The business also recently disclosed 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. This represents a $0.20 annualized dividend and a dividend yield of 2.0%. This is an increase from KNOT Offshore Partners’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, April 27th. KNOT Offshore Partners’s dividend payout ratio is currently 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.