KNOT Offshore Partners LP (NYSE:KNOP) Sees Significant Decrease in Short Interest

KNOT Offshore Partners LP (NYSE:KNOP) saw a significant decrease in short interest in February. As of February 13th, there was short interest totaling 175,189 shares, a decrease of 16.6% from the January 29th total of 210,142 shares. Based on an average daily volume of 95,502 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 95,502 shares, the short-interest ratio is presently 1.8 days.

KNOT Offshore Partners Stock Performance

NYSE:KNOP opened at $10.70 on Tuesday. The firm’s fifty day simple moving average is $10.49 and its 200 day simple moving average is $9.61. 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 has a twelve month low of $5.35 and a twelve month high of $11.15.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Thursday, December 4th. The shipping company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.32. The company had revenue of $96.87 million for the quarter, compared to analysts’ expectations of $88.12 million. KNOT Offshore Partners had a return on equity of 9.00% and a net margin of 14.69%. As a group, research analysts expect that KNOT Offshore Partners will post 0.12 earnings per share for the current year.

KNOT Offshore Partners Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KNOP shares. Zacks Research downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Wall Street Zen lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Fearnley Fonds cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Alliance Global Partners restated a “neutral” rating on shares of KNOT Offshore Partners in a report on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KNOP. Russell Investments Group Ltd. lifted its holdings in 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 acquiring an additional 4,836 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in KNOT Offshore Partners during the 2nd quarter worth $68,000. Cetera Investment Advisers bought a new position in KNOT Offshore Partners during the 4th quarter worth $125,000. Virtu Financial LLC acquired a new position in shares of KNOT Offshore Partners during the fourth quarter valued at $138,000. Finally, Fifth Lane Capital LP acquired a new position in shares of KNOT Offshore Partners during the fourth quarter valued at $167,000. 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.