KNOT Offshore Partners (NYSE:KNOP) Issues Quarterly Earnings Results

KNOT Offshore Partners (NYSE:KNOP) issued its quarterly earnings results on Tuesday. The shipping company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08, Zacks reports. KNOT Offshore Partners had a negative return on equity of 0.29% and a negative net margin of 4.82%. The company had revenue of $84.03 million during the quarter, compared to analyst estimates of $79.74 million.

KNOT Offshore Partners Stock Down 5.7%

KNOP opened at $6.48 on Thursday. The company has a market capitalization of $222.07 million, a P/E ratio of -15.06 and a beta of -0.08. The firm’s fifty day moving average price is $6.48 and its two-hundred day moving average price is $6.00. KNOT Offshore Partners has a fifty-two week low of $5.28 and a fifty-two week high of $9.11. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.44 and a quick ratio of 0.42.

KNOT Offshore Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, April 28th were given a $0.026 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.61%. KNOT Offshore Partners’s dividend payout ratio is currently 24.39%.

Analyst Upgrades and Downgrades

Several research firms recently commented on KNOP. Fearnley Fonds upgraded shares of KNOT Offshore Partners to a “strong-buy” rating in a research note on Tuesday, April 1st. StockNews.com upgraded shares of KNOT Offshore Partners from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in KNOT Offshore Partners stock. Acadian Asset Management LLC bought a new position in shares of KNOT Offshore Partners LP (NYSE:KNOP) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 18,906 shares of the shipping company’s stock, valued at approximately $130,000. Acadian Asset Management LLC owned approximately 0.06% of KNOT Offshore Partners as of its most recent SEC filing. Institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.