KNOT Offshore Partners (NYSE:KNOP) Upgraded at Zacks Research

Zacks Research upgraded shares of KNOT Offshore Partners (NYSE:KNOP) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

KNOP has been the subject of several other reports. Alliance Global Partners reaffirmed a “neutral” rating on shares of KNOT Offshore Partners in a research report on Monday, December 8th. Fearnley Fonds downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. B. Riley downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Wall Street Zen cut KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KNOT Offshore Partners in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

KNOT Offshore Partners Stock Performance

Shares of KNOP stock opened at $10.48 on Wednesday. KNOT Offshore Partners has a 12-month low of $5.29 and a 12-month high of $10.99. The business’s fifty day simple moving average is $10.20 and its 200-day simple moving average is $8.68. The company has a current ratio of 0.28, a quick ratio of 0.27 and a debt-to-equity ratio of 1.20. The company has a market cap of $356.01 million, a PE ratio of 6.76 and a beta of -0.14.

KNOT Offshore Partners (NYSE:KNOP) last announced its earnings results on Thursday, December 4th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.32. The company had revenue of $96.87 million for the quarter, compared to analyst estimates of $88.12 million. KNOT Offshore Partners had a return on equity of 9.00% and a net margin of 14.69%. Analysts expect that KNOT Offshore Partners will post 0.12 earnings per share for the current fiscal year.

KNOT Offshore Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Monday, January 26th will be given a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, January 26th. KNOT Offshore Partners’s dividend payout ratio (DPR) is currently 6.45%.

Hedge Funds Weigh In On KNOT Offshore Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in KNOT Offshore Partners by 115.0% during the second 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 period. Occudo Quantitative Strategies LP purchased a new stake in KNOT Offshore Partners in the 2nd quarter worth approximately $68,000. Osaic Holdings Inc. grew its stake in shares of KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock worth $104,000 after purchasing an additional 11,388 shares during the period. Acadian Asset Management LLC purchased a new position in shares of KNOT Offshore Partners during the 1st quarter valued at approximately $130,000. Finally, GSA Capital Partners LLP lifted its stake in shares of KNOT Offshore Partners by 11.5% in the 3rd quarter. GSA Capital Partners LLP now owns 48,075 shares of the shipping company’s stock valued at $424,000 after purchasing an additional 4,957 shares during the period. Institutional investors and hedge funds own 26.82% of the company’s stock.

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.