KNOT Offshore Partners LP (KNOP) – What Are Researchers Thinking About This Stock?

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.00.

A number of analysts recently issued reports on KNOP shares. Zacks Research upgraded KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Tuesday, October 27th.

Insider Buying and Selling at KNOT Offshore Partners

In other news, Director Trygve Seglem purchased 2,083,333 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were acquired at an average price of $20.88 per share, with a total value of $43,499,993.04. Following the transaction, the director owned 3,541,666 shares of the company’s stock, valued at $73,949,986.08. This represents a 142.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in KNOT Offshore Partners by 8.8% in the first quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company’s stock valued at $13,461,000 after buying an additional 108,400 shares during the last quarter. American Beacon Advisors Inc. boosted its stake in KNOT Offshore Partners by 71.8% in the 2nd quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company’s stock worth $8,638,000 after purchasing an additional 361,659 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in KNOT Offshore Partners during the 1st quarter worth approximately $643,000. Walleye Capital LLC purchased a new position in shares of KNOT Offshore Partners in the first quarter worth $259,000. Finally, Royal Bank of Canada acquired a new position in shares of KNOT Offshore Partners in the first quarter valued at about $25,000. Hedge funds and other institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Stock Down 1.4%

Shares of KNOP stock opened at $8.75 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.34 and a quick ratio of 0.33. KNOT Offshore Partners has a one year low of $8.06 and a one year high of $11.78. The company’s fifty day moving average price is $10.46 and its 200-day moving average price is $10.50. The company has a market capitalization of $294.49 million, a price-to-earnings ratio of 19.88 and a beta of -0.01.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Friday, August 14th. The shipping company reported $0.05 earnings per share (EPS) for the quarter. KNOT Offshore Partners had a return on equity of 5.73% and a net margin of 3.90%. The business had revenue of $96.78 million for the quarter. Sell-side analysts expect that KNOT Offshore Partners will post 0.22 EPS for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 26th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from KNOT Offshore Partners’s previous quarterly dividend of $0.0750. The ex-dividend date of this dividend is Monday, October 26th. KNOT Offshore Partners’s dividend payout ratio is 90.91%.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP (NYSE: KNOP) is a publicly traded limited partnership that owns and operates shuttle tankers. These specialized vessels transport crude oil from offshore production facilities and loading terminals to onshore refineries, storage facilities and other destinations.

The partnership’s vessels are generally employed under long-term or medium-term charter contracts with major oil and gas companies. Shuttle tankers are equipped with systems designed for offshore loading and unloading, including dynamic positioning and specialized bow-loading technology, enabling them to operate in demanding offshore environments.

KNOT Offshore Partners was formed by its sponsor, KNOT Offshore Partners AS, which is part of the KNOT group, a maritime organization associated with Knutsen OAS Shipping and Nippon Yusen Kabushiki Kaisha.