KNOT Offshore Partners (NYSE:KNOP) Releases Quarterly Earnings Results

KNOT Offshore Partners (NYSE:KNOP) posted its earnings results on Thursday. The shipping company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.22), FiscalAI reports. KNOT Offshore Partners had a return on equity of 7.30% and a net margin of 6.38%.The firm had revenue of $92.01 million for the quarter, compared to the consensus estimate of $90.35 million.

KNOT Offshore Partners Trading Up 1.3%

Shares of KNOP stock opened at $11.21 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.26 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $10.53 and a two-hundred day moving average price of $10.43. KNOT Offshore Partners has a 12-month low of $6.16 and a 12-month high of $11.78. The firm has a market cap of $377.29 million, a P/E ratio of 16.48 and a beta of -0.07.

KNOT Offshore Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, April 27th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.8%. This is an increase from KNOT Offshore Partners’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Monday, April 27th. KNOT Offshore Partners’s dividend payout ratio is presently 29.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on KNOP shares. Wall Street Zen cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research lowered shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Weiss Ratings lowered shares of KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. B. Riley Financial upgraded shares of KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Friday, March 20th. Finally, Fearnley Fonds upgraded shares of KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Institutional Trading of KNOT Offshore Partners

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in KNOT Offshore Partners during the fourth quarter valued at about $277,000. Occudo Quantitative Strategies LP purchased a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at approximately $144,000. Millennium Management LLC boosted its stake in shares of KNOT Offshore Partners by 56.5% during the fourth quarter. Millennium Management LLC now owns 145,483 shares of the shipping company’s stock valued at $1,506,000 after purchasing an additional 52,538 shares during the period. Trexquant Investment LP purchased a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at approximately $520,000. Finally, Jane Street Group LLC purchased a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at approximately $313,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

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.