Shares of KNOT Offshore Partners LP (NYSE:KNOP – Get Free Report) have been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.00.
A number of equities analysts have commented on KNOP shares. Wall Street Zen raised shares of KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research note on Sunday. Zacks Research raised shares of KNOT Offshore Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Wednesday, July 29th.
Get Our Latest Stock Report on KNOT Offshore Partners
Insider Transactions at KNOT Offshore Partners
Hedge Funds Weigh In On KNOT Offshore Partners
Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in KNOT Offshore Partners by 8.8% in the first quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company’s stock worth $13,461,000 after buying an additional 108,400 shares in the last quarter. American Beacon Advisors Inc. raised its stake in shares of KNOT Offshore Partners by 71.8% during the second quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company’s stock worth $8,638,000 after acquiring an additional 361,659 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of KNOT Offshore Partners in the 1st quarter worth approximately $643,000. Royal Bank of Canada bought a new stake in shares of KNOT Offshore Partners in the 1st quarter worth approximately $25,000. Finally, Cetera Investment Advisers purchased a new stake in shares of KNOT Offshore Partners in the 4th quarter valued at $125,000. 26.82% of the stock is currently owned by institutional investors.
KNOT Offshore Partners Stock Up 1.3%
Shares of NYSE KNOP opened at $11.54 on Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.33 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average of $10.64 and a 200-day moving average of $10.55. The firm has a market capitalization of $388.30 million, a price-to-earnings ratio of 26.22 and a beta of -0.05. KNOT Offshore Partners has a 12 month low of $8.00 and a 12 month high of $11.78.
KNOT Offshore Partners (NYSE:KNOP – Get Free Report) last announced its earnings results on Friday, September 4th. The shipping company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.13. KNOT Offshore Partners had a net margin of 3.90% and a return on equity of 5.73%. The business had revenue of $96.78 million for the quarter, compared to the consensus estimate of $88.65 million. Sell-side analysts expect that KNOT Offshore Partners will post 0.09 earnings per share for the current fiscal year.
KNOT Offshore Partners Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, July 27th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.6%. This is an increase from KNOT Offshore Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, July 27th. KNOT Offshore Partners’s dividend payout ratio is presently 68.18%.
About KNOT Offshore Partners
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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