KNOT Offshore Partners (NYSE:KNOP) Announces Earnings Results, Beats Estimates By $0.32 EPS

KNOT Offshore Partners (NYSE:KNOP) announced its quarterly earnings data on Thursday. The shipping company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.13 by $0.32, Zacks reports. KNOT Offshore Partners had a return on equity of 5.58% and a net margin of 10.00%.The company had revenue of $96.87 million for the quarter, compared to the consensus estimate of $88.12 million.

KNOT Offshore Partners Price Performance

NYSE KNOP opened at $10.09 on Friday. The company has a market cap of $345.92 million, a PE ratio of 10.19 and a beta of -0.13. The firm’s 50 day moving average price is $9.35 and its 200-day moving average price is $7.97. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.42 and a current ratio of 0.43. KNOT Offshore Partners has a 52-week low of $5.28 and a 52-week high of $10.23.

KNOT Offshore Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Monday, October 27th were paid a dividend of $0.026 per share. The ex-dividend date was Monday, October 27th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.0%. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently 10.10%.

Institutional Trading of KNOT Offshore Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in shares of KNOT Offshore Partners by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock valued at $58,000 after acquiring an additional 4,836 shares during the period. Occudo Quantitative Strategies LP bought a new stake in KNOT Offshore Partners during the second quarter valued at about $68,000. Osaic Holdings Inc. boosted its position in KNOT Offshore Partners by 220.3% during the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after purchasing an additional 11,388 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in KNOT Offshore Partners in the first quarter valued at about $130,000. Institutional investors own 26.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KNOP. B. Riley lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Zacks Research raised shares of KNOT Offshore Partners to a “hold” rating in a research report on Monday, August 11th. Wall Street Zen downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Wednesday, October 8th. Finally, Fearnley Fonds cut KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, KNOT Offshore Partners currently has an average rating of “Hold”.

About KNOT Offshore Partners

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.