KNOT Offshore Partners LP (NYSE:KNOP) Receives $14.00 Average Target Price from Brokerages

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.00.

KNOP has been the topic of a number of research reports. B. Riley Financial raised KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Friday, March 20th. Fearnley Fonds upgraded KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Wall Street Zen cut KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings cut KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st.

Hedge Funds Weigh In On KNOT Offshore Partners

Large investors have recently bought and sold shares of the business. Royal Bank of Canada purchased a new position in KNOT Offshore Partners during the 1st quarter valued at $25,000. Russell Investments Group Ltd. lifted 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 buying an additional 4,836 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of KNOT Offshore Partners in the 2nd quarter worth $68,000. Osaic Holdings Inc. lifted its holdings in shares of KNOT Offshore Partners by 220.3% in the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after buying an additional 11,388 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in shares of KNOT Offshore Partners in the 4th quarter worth $125,000. Hedge funds and other institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Stock Down 1.0%

Shares of KNOP opened at $10.71 on Monday. The business’s 50 day moving average is $10.64 and its 200 day moving average is $10.47. The company has a market capitalization of $360.33 million, a PE ratio of 19.82 and a beta of -0.06. KNOT Offshore Partners has a 12-month low of $6.16 and a 12-month high of $11.78. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.93.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.08 earnings per share (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 firm had revenue of $92.01 million during the quarter, compared to the consensus estimate of $90.35 million. Research analysts expect that KNOT Offshore Partners will post 0.14 earnings per share for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, April 27th were issued a $0.05 dividend. This is a positive change from KNOT Offshore Partners’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, April 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently 37.04%.

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.