KNOT Offshore Partners LP (NYSE:KNOP) Receives Average Rating of “Hold” from Analysts

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating.

Several research firms have recently issued reports on KNOP. Zacks Research downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. B. Riley Financial lowered KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Wall Street Zen cut KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Alliance Global Partners reissued a “neutral” rating on shares of KNOT Offshore Partners in a report on Monday, December 8th. Finally, Fearnley Fonds cut KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd.

KNOT Offshore Partners Price Performance

KNOP opened at $10.28 on Friday. The business has a 50 day moving average of $10.48 and a 200-day moving average of $9.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.28 and a quick ratio of 0.27. 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 announced its earnings results on Thursday, December 4th. The shipping company reported $0.45 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $88.12 million. On average, equities analysts expect that KNOT Offshore Partners will post 0.12 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, January 26th were issued a $0.026 dividend. This represents a $0.10 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, January 26th. KNOT Offshore Partners’s payout ratio is 6.45%.

Hedge Funds Weigh In On KNOT Offshore Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in shares of KNOT Offshore Partners by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,227,035 shares of the shipping company’s stock valued at $12,700,000 after acquiring an additional 32,369 shares in the last quarter. American Beacon Advisors Inc. lifted its stake in 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 worth $5,215,000 after purchasing an additional 325,588 shares during the period. Millennium Management LLC lifted its stake in KNOT Offshore Partners by 56.5% during the fourth quarter. Millennium Management LLC now owns 145,483 shares of the shipping company’s stock worth $1,506,000 after purchasing an additional 52,538 shares during the period. Trexquant Investment LP acquired a new stake in KNOT Offshore Partners during the fourth quarter valued at approximately $520,000. Finally, GSA Capital Partners LLP grew its stake in shares of KNOT Offshore Partners by 11.5% in the 3rd quarter. GSA Capital Partners LLP now owns 48,075 shares of the shipping company’s stock valued at $424,000 after purchasing an additional 4,957 shares during the period. 26.82% of the stock is owned by institutional investors.

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.