SeaBridge Investment Advisors LLC bought a new position in KNOT Offshore Partners LP (NYSE:KNOP) in the 4th quarter, HoldingsChannel reports. The firm bought 2,000 shares of the shipping company’s stock, valued at approximately $36,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KNOP. Naples Global Advisors LLC grew its position in KNOT Offshore Partners by 6.6% during the fourth quarter. Naples Global Advisors LLC now owns 33,205 shares of the shipping company’s stock valued at $633,000 after buying an additional 2,055 shares during the period. California Public Employees Retirement System grew its position in KNOT Offshore Partners by 8.1% during the second quarter. California Public Employees Retirement System now owns 39,640 shares of the shipping company’s stock valued at $878,000 after buying an additional 2,954 shares during the period. IFP Advisors Inc bought a new position in KNOT Offshore Partners during the fourth quarter valued at about $74,000. Russell Investments Group Ltd. bought a new position in KNOT Offshore Partners during the third quarter valued at about $161,000. Finally, Morgan Stanley grew its position in KNOT Offshore Partners by 5.8% during the third quarter. Morgan Stanley now owns 288,194 shares of the shipping company’s stock valued at $6,254,000 after buying an additional 15,816 shares during the period. Hedge funds and other institutional investors own 40.04% of the company’s stock.
KNOP opened at $18.55 on Friday. The stock has a market cap of $606.47 million, a P/E ratio of 8.21 and a beta of 0.62. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.51 and a quick ratio of 0.50. KNOT Offshore Partners LP has a fifty-two week low of $17.18 and a fifty-two week high of $22.75.
KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Monday, November 26th. The shipping company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The company had revenue of $70.72 million during the quarter, compared to analyst estimates of $70.03 million. KNOT Offshore Partners had a net margin of 34.05% and a return on equity of 14.16%. Analysts predict that KNOT Offshore Partners LP will post 2.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Friday, February 1st will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, January 31st. This represents a $2.08 dividend on an annualized basis and a yield of 11.21%. KNOT Offshore Partners’s dividend payout ratio is presently 92.04%.
Several research firms recently weighed in on KNOP. ValuEngine upgraded shares of KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Zacks Investment Research upgraded shares of KNOT Offshore Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, December 4th.
About KNOT Offshore Partners
KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company loading, transportation and storage of their crude oil services under time charters and bareboat charters. As of April 25, 2018, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.
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