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

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating.

A number of analysts recently issued reports on KNOP shares. Wall Street Zen cut KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. B. Riley Financial cut KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Zacks Research lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Alliance Global Partners reaffirmed a “neutral” rating on shares of KNOT Offshore Partners in a research note on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a report on Thursday, January 22nd.

KNOT Offshore Partners Stock Up 0.4%

Shares of KNOP stock opened at $10.52 on Friday. The firm’s 50 day moving average is $10.48 and its 200 day moving average is $9.52. KNOT Offshore Partners has a 12 month low of $5.29 and a 12 month high of $11.15. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.27 and a current ratio of 0.28.

KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Thursday, December 4th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $88.12 million. As a group, research analysts expect that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, January 26th were given a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, January 26th. KNOT Offshore Partners’s dividend payout ratio (DPR) is 6.45%.

Hedge Funds Weigh In On KNOT Offshore Partners

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at about $130,000. Russell Investments Group Ltd. increased its position in shares of KNOT Offshore Partners by 115.0% in the second quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after purchasing an additional 4,836 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in KNOT Offshore Partners in the second quarter valued at approximately $68,000. Osaic Holdings Inc. lifted its position 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 valued at $104,000 after purchasing an additional 11,388 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in KNOT Offshore Partners by 11.5% during the third 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 last quarter. 26.82% of the stock is currently owned by institutional investors.

KNOT Offshore Partners Company Profile

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.