63,777 Shares in KNOT Offshore Partners LP $KNOP Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new stake in KNOT Offshore Partners LP (NYSE:KNOP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 63,777 shares of the shipping company’s stock, valued at approximately $643,000. Janney Montgomery Scott LLC owned 0.19% of KNOT Offshore Partners at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KNOP. Acadian Asset Management LLC bought a new position in shares of KNOT Offshore Partners in the first quarter valued at $130,000. Russell Investments Group Ltd. raised 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 worth $58,000 after acquiring an additional 4,836 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of KNOT Offshore Partners in the 2nd quarter worth about $68,000. Osaic Holdings Inc. lifted its position in KNOT Offshore Partners by 220.3% in the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after acquiring an additional 11,388 shares in the last quarter. Finally, ING Groep NV acquired a new position in KNOT Offshore Partners during the 4th quarter valued at about $205,000. Institutional investors own 26.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings downgraded KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Wall Street Zen downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research lowered KNOT Offshore Partners from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Fearnley Fonds upgraded KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Finally, B. Riley Financial raised shares of KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.00.

KNOT Offshore Partners Stock Performance

KNOP stock opened at $10.72 on Wednesday. The firm has a market cap of $360.73 million, a PE ratio of 19.85 and a beta of -0.05. The company has a quick ratio of 0.24, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average of $10.71 and a 200-day moving average of $10.50. KNOT Offshore Partners LP has a 12-month low of $6.76 and a 12-month high of $11.78.

KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). KNOT Offshore Partners had a return on equity of 6.36% and a net margin of 4.92%.The business had revenue of $92.01 million for the quarter, compared to the consensus estimate of $90.35 million. As a group, sell-side analysts expect that KNOT Offshore Partners LP will post 0.09 earnings per share for the current year.

KNOT Offshore Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 27th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $0.30 annualized dividend and a dividend yield of 2.8%. This is a boost from KNOT Offshore Partners’s previous quarterly dividend of $0.05. KNOT Offshore Partners’s payout ratio is 37.04%.

Insider Activity at KNOT Offshore Partners

In other KNOT Offshore Partners news, Director Trygve Seglem bought 1,250,000 shares of the stock in a transaction dated 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 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.