KNOT Offshore Partners LP (NYSE:KNOP) Given Average Recommendation of “Moderate Buy” by Analysts

KNOT Offshore Partners LP (NYSE:KNOP) has received an average recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $14.00.

Several equities analysts have recently commented on KNOP shares. Wall Street Zen cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. B. Riley Financial upgraded KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Friday, March 20th. Fearnley Fonds raised KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Finally, Weiss Ratings downgraded KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st.

Insider Transactions at KNOT Offshore Partners

In other KNOT Offshore Partners news, Director Trygve Seglem acquired 1,250,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was purchased at an average price of $20.00 per share, with a total value 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. This trade represents a 600.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Trading of KNOT Offshore Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada bought a new stake in shares of KNOT Offshore Partners during the first quarter valued at approximately $25,000. Russell Investments Group Ltd. grew its position in KNOT Offshore Partners by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock valued at $58,000 after buying an additional 4,836 shares in the last quarter. GSA Capital Partners LLP grew its position in 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 buying an additional 4,957 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in KNOT Offshore Partners during the 2nd quarter valued at about $68,000. Finally, Osaic Holdings Inc. increased its stake in KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after buying an additional 11,388 shares during the period. 26.82% of the stock is owned by institutional investors and hedge funds.

KNOT Offshore Partners Trading Up 0.9%

NYSE KNOP opened at $9.99 on Friday. KNOT Offshore Partners has a 12 month low of $6.65 and a 12 month high of $11.78. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.24. The company has a market capitalization of $336.20 million, a price-to-earnings ratio of 18.50 and a beta of -0.05. The company’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $10.49.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). The company had revenue of $92.01 million for the quarter, compared to analyst estimates of $90.35 million. KNOT Offshore Partners had a return on equity of 6.36% and a net margin of 4.92%. As a group, research analysts predict that KNOT Offshore Partners will post 0.14 earnings per share for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, April 27th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, April 27th. 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. 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.