KNOT Offshore Partners LP (NYSE:KNOP) Sees Significant Drop in Short Interest

KNOT Offshore Partners LP (NYSE:KNOP) was the recipient of a large decline in short interest in February. As of February 13th, there was short interest totaling 175,189 shares, a decline of 16.6% from the January 29th total of 210,142 shares. Based on an average daily volume of 95,502 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 95,502 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On KNOT Offshore Partners

Several institutional investors have recently made changes to their positions in KNOP. Russell Investments Group Ltd. raised its position in shares of KNOT Offshore Partners by 115.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock valued at $58,000 after purchasing an additional 4,836 shares during the period. GSA Capital Partners LLP increased its stake in 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 worth $424,000 after buying an additional 4,957 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in KNOT Offshore Partners in the 2nd quarter worth $68,000. Osaic Holdings Inc. raised its holdings in KNOT Offshore Partners by 220.3% during the second 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 during the period. Finally, Cetera Investment Advisers purchased a new position in shares of KNOT Offshore Partners in the fourth quarter valued at about $125,000. Institutional investors own 26.82% of the company’s stock.

KNOT Offshore Partners Price Performance

Shares of KNOP traded down $0.10 during trading hours on Wednesday, hitting $10.50. The company had a trading volume of 29,253 shares, compared to its average volume of 108,618. The firm has a fifty day moving average price of $10.49 and a 200-day moving average price of $9.64. KNOT Offshore Partners has a 52-week low of $5.35 and a 52-week high of $11.15. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.28 and a quick ratio of 0.27.

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

KNOT Offshore Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, January 26th were given a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, January 26th. KNOT Offshore Partners’s payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Weiss Ratings reissued a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Thursday, January 22nd. Alliance Global Partners restated a “neutral” rating on shares of KNOT Offshore Partners in a research note on Monday, December 8th. Finally, Zacks Research cut KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, KNOT Offshore Partners currently has an average rating of “Hold”.

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.