KNOT Offshore Partners LP (NYSE:KNOP – Get Free Report) Director Trygve Seglem bought 1,250,000 shares of KNOT Offshore Partners stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
KNOT Offshore Partners Price Performance
KNOP opened at $10.25 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.24 and a current ratio of 0.25. KNOT Offshore Partners LP has a 52-week low of $6.16 and a 52-week high of $11.78. The stock has a market capitalization of $345.02 million, a PE ratio of 18.98 and a beta of -0.06. The stock’s 50 day moving average price is $10.72 and its 200-day moving average price is $10.51.
KNOT Offshore Partners (NYSE:KNOP – Get Free Report) last posted its earnings results on Thursday, May 28th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.09). KNOT Offshore Partners had a net margin of 4.92% and a return on equity of 6.36%. The business had revenue of $92.01 million for the quarter, compared to analysts’ expectations of $90.35 million. On average, equities research analysts predict that KNOT Offshore Partners LP will post 0.14 EPS for the current year.
KNOT Offshore Partners Increases Dividend
Wall Street Analysts Forecast Growth
KNOP has been the topic of several research analyst reports. Wall Street Zen cut KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Fearnley Fonds raised KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Weiss Ratings cut KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, B. Riley Financial raised KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, KNOT Offshore Partners has a consensus rating of “Moderate Buy” and an average target price of $14.00.
View Our Latest Research Report on KNOT Offshore Partners
Institutional Investors Weigh In On KNOT Offshore Partners
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new stake in KNOT Offshore Partners in the first quarter worth $25,000. Russell Investments Group Ltd. grew its stake 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 purchasing an additional 4,836 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in KNOT Offshore Partners in the second quarter worth $68,000. Osaic Holdings Inc. grew its stake in KNOT Offshore Partners by 220.3% in the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after purchasing an additional 11,388 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in KNOT Offshore Partners in the fourth quarter worth $125,000. 26.82% of the stock is owned by hedge funds and other 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.
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