KNOT Offshore Partners LP (NYSE:KNOP) Receives Average Recommendation of “Hold” from Brokerages

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have earned an average recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $14.00.

Several brokerages recently issued reports on KNOP. B. Riley Financial raised KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Friday. Alliance Global Partners reissued a “neutral” rating on shares of KNOT Offshore Partners in a report on Monday, December 8th. Weiss Ratings restated a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th.

Institutional Trading of KNOT Offshore Partners

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of KNOT Offshore Partners during the 4th quarter worth approximately $277,000. Occudo Quantitative Strategies LP purchased a new stake in KNOT Offshore Partners in the 4th quarter valued at approximately $144,000. Cetera Investment Advisers purchased a new stake in KNOT Offshore Partners in the 4th quarter valued at approximately $125,000. Jane Street Group LLC acquired a new stake in KNOT Offshore Partners during the 4th quarter valued at $313,000. Finally, Osaic Holdings Inc. grew its holdings in KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after buying an additional 11,388 shares during the last quarter. Hedge funds and other institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Price Performance

KNOP stock opened at $9.14 on Wednesday. The firm has a 50 day moving average of $10.46 and a 200-day moving average of $9.86. KNOT Offshore Partners has a 12-month low of $5.45 and a 12-month high of $11.15. 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 $311.26 million, a price-to-earnings ratio of 5.90 and a beta of -0.12.

KNOT Offshore Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, January 26th were issued a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, January 26th. KNOT Offshore Partners’s dividend payout ratio (DPR) is 6.45%.

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.