KNOT Offshore Partners LP (KNOP) To Go Ex-Dividend on July 27th

KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly dividend on Tuesday, July 7th. Stockholders of record on Monday, July 27th will be paid a dividend of 0.075 per share by the shipping company on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, July 27th. This is a 50.0% increase from KNOT Offshore Partners’s previous quarterly dividend of $0.05.

KNOT Offshore Partners has decreased its dividend payment by an average of 0.5%annually over the last three years. KNOT Offshore Partners has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KNOT Offshore Partners to earn ($0.18) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -111.1%.

KNOT Offshore Partners Price Performance

KNOT Offshore Partners stock opened at $11.07 on Thursday. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $10.73 and a 200-day simple moving average of $10.49. The stock has a market cap of $372.62 million, a P/E ratio of 20.50 and a beta of -0.05. KNOT Offshore Partners has a 12-month low of $6.76 and a 12-month high of $11.78.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Thursday, May 28th. The shipping company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.09). The business had revenue of $92.01 million during the quarter, compared to analysts’ expectations of $90.35 million. KNOT Offshore Partners had a net margin of 4.92% and a return on equity of 6.36%. Equities analysts expect that KNOT Offshore Partners will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling at KNOT Offshore Partners

In related news, Director Trygve Seglem bought 1,250,000 shares of the stock in a transaction on Monday, June 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the director owned 1,458,333 shares of the company’s stock, valued at $29,166,660. This trade represents a 600.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On KNOT Offshore Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada purchased a new position in KNOT Offshore Partners during the 1st quarter worth $25,000. Russell Investments Group Ltd. boosted its holdings in shares of 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 valued at $58,000 after acquiring an additional 4,836 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of KNOT Offshore Partners in the second quarter valued at about $68,000. Cetera Investment Advisers acquired a new position in shares of KNOT Offshore Partners during the fourth quarter worth about $125,000. Finally, Virtu Financial LLC purchased a new position in KNOT Offshore Partners during the fourth quarter worth about $138,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

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.