KNOT Offshore Partners (NYSE:KNOP) Releases Earnings Results, Beats Expectations By $0.32 EPS

KNOT Offshore Partners (NYSE:KNOP) posted its quarterly earnings data on Thursday. The shipping company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.32, Zacks reports. KNOT Offshore Partners had a net margin of 10.00% and a return on equity of 5.58%.

KNOT Offshore Partners Price Performance

KNOP traded up $0.06 during midday trading on Thursday, reaching $10.09. 134,786 shares of the company’s stock were exchanged, compared to its average volume of 83,352. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 1.37. The business has a 50-day simple moving average of $9.34 and a two-hundred day simple moving average of $7.95. The firm has a market capitalization of $345.92 million, a price-to-earnings ratio of 10.19 and a beta of -0.13. KNOT Offshore Partners has a one year low of $5.28 and a one year high of $10.23.

KNOT Offshore Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Monday, October 27th were paid a dividend of $0.026 per share. The ex-dividend date was Monday, October 27th. 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 10.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KNOP shares. Wall Street Zen downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Zacks Research raised shares of KNOT Offshore Partners to a “hold” rating in a research report on Monday, August 11th. B. Riley cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Fearnley Fonds lowered KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On KNOT Offshore Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in KNOT Offshore Partners in the 1st quarter valued at $130,000. Osaic Holdings Inc. raised its stake 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 acquiring an additional 11,388 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in KNOT Offshore Partners during the second quarter worth $68,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of 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 valued at $58,000 after acquiring an additional 4,836 shares during the period. Institutional investors own 26.82% of the company’s stock.

About KNOT Offshore Partners

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.