KNOT Offshore Partners (NYSE:KNOP) Director Trygve Seglem Acquires 2,083,333 Shares of Stock

KNOT Offshore Partners LP (NYSE:KNOP) Director Trygve Seglem bought 2,083,333 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were acquired at an average cost of $20.88 per share, with a total value of $43,499,993.04. Following the transaction, the director owned 3,541,666 shares in the company, valued at approximately $73,949,986.08. This represents a 142.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

KNOT Offshore Partners Trading Down 1.4%

NYSE KNOP traded down $0.12 during mid-day trading on Wednesday, hitting $8.75. The company’s stock had a trading volume of 61,741 shares, compared to its average volume of 86,665. KNOT Offshore Partners LP has a 52-week low of $8.06 and a 52-week high of $11.78. The stock’s fifty day simple moving average is $10.50 and its two-hundred day simple moving average is $10.51. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.34 and a quick ratio of 0.33. The firm has a market capitalization of $294.49 million, a P/E ratio of 19.88 and a beta of -0.01.

KNOT Offshore Partners (NYSE:KNOP) last released 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 net margin of 3.90% and a return on equity of 5.73%. The company had revenue of $96.78 million during the quarter. Research analysts expect that KNOT Offshore Partners LP will post 0.22 EPS for the current year.

KNOT Offshore Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 26th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, October 26th. This is a positive change from KNOT Offshore Partners’s previous quarterly dividend of $0.0750. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently 90.91%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KNOP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Tuesday, October 27th. Wall Street Zen raised KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 6th. Finally, Zacks Research upgraded KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, KNOT Offshore Partners presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Institutional Investors Weigh In On KNOT Offshore Partners

Several hedge funds and other institutional investors have recently bought and sold shares of KNOP. Renaissance Technologies LLC raised its position in shares of KNOT Offshore Partners by 8.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company’s stock valued at $13,461,000 after purchasing an additional 108,400 shares in the last quarter. American Beacon Advisors Inc. raised its holdings in KNOT Offshore Partners by 71.8% in the second quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company’s stock valued at $8,638,000 after acquiring an additional 361,659 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in KNOT Offshore Partners during the 1st quarter valued at $643,000. Royal Bank of Canada bought a new position in KNOT Offshore Partners during the 1st quarter valued at $25,000. Finally, Walleye Capital LLC acquired a new position in KNOT Offshore Partners during the 1st quarter worth $259,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

About KNOT Offshore Partners

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.