Trygve Seglem Purchases 1,250,000 Shares of KNOT Offshore Partners (NYSE:KNOP) Stock

KNOT Offshore Partners LP (NYSE:KNOP) Director Trygve Seglem purchased 1,250,000 shares of KNOT Offshore Partners stock in a transaction dated Monday, June 15th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $25,000,000.00. Following the completion of the acquisition, the director owned 1,458,333 shares of the company’s stock, valued at approximately $29,166,660. This trade represents a 600.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

KNOT Offshore Partners Stock Down 1.0%

Shares of KNOT Offshore Partners stock traded down $0.11 during trading on Tuesday, reaching $10.40. The company’s stock had a trading volume of 77,762 shares, compared to its average volume of 110,363. The company has a quick ratio of 0.24, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The company has a 50-day simple moving average of $10.71 and a two-hundred day simple moving average of $10.50. The company has a market cap of $350.20 million, a price-to-earnings ratio of 19.27 and a beta of -0.06. KNOT Offshore Partners LP has a 1-year low of $6.16 and a 1-year high of $11.78.

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

KNOT Offshore Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, April 27th were given a dividend of $0.05 per share. The ex-dividend date was Monday, April 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.9%. This is a boost from KNOT Offshore Partners’s previous quarterly dividend of $0.03. KNOT Offshore Partners’s payout ratio is presently 37.04%.

Institutional Trading of KNOT Offshore Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada bought a new position in shares of KNOT Offshore Partners in the 1st quarter worth $25,000. Russell Investments Group Ltd. boosted its holdings in shares of KNOT Offshore Partners by 115.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after buying an additional 4,836 shares during the period. Occudo Quantitative Strategies LP bought a new position in shares of KNOT Offshore Partners during the second quarter worth approximately $68,000. Cetera Investment Advisers acquired a new position in KNOT Offshore Partners in the fourth quarter valued at about $125,000. Finally, Virtu Financial LLC acquired a new stake in KNOT Offshore Partners in the fourth quarter valued at about $138,000. 26.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KNOP has been the subject of several analyst reports. Fearnley Fonds raised shares of KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. B. Riley Financial raised shares of KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, March 20th. Wall Street Zen lowered KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings cut KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.00.

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.