KNOT Offshore Partners LP (NYSE:KNOP) Receives Consensus Rating of “Hold” from Analysts

Shares of KNOT Offshore Partners LP (NYSE:KNOP) have earned an average rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating.

Several equities research analysts have recently weighed in on KNOP shares. Alliance Global Partners reiterated a “neutral” rating on shares of KNOT Offshore Partners in a report on Monday, December 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KNOT Offshore Partners in a research report on Thursday, January 22nd. Finally, Zacks Research lowered KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th.

KNOT Offshore Partners Stock Performance

Shares of NYSE KNOP opened at $10.14 on Wednesday. KNOT Offshore Partners has a 1 year low of $5.45 and a 1 year high of $11.15. The firm has a 50-day simple moving average of $10.49 and a two-hundred day simple moving average of $9.85. 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 Announces Dividend

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

Institutional Investors Weigh In On KNOT Offshore Partners

Several large investors have recently added to or reduced their stakes in KNOP. American Beacon Advisors Inc. grew its stake in KNOT Offshore Partners by 182.6% in the 4th quarter. American Beacon Advisors Inc. now owns 503,895 shares of the shipping company’s stock worth $5,215,000 after acquiring an additional 325,588 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of KNOT Offshore Partners during the fourth quarter valued at approximately $1,294,000. Millennium Management LLC raised 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 acquiring an additional 52,538 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of KNOT Offshore Partners in the fourth quarter valued at approximately $520,000. Finally, Renaissance Technologies LLC grew its stake in KNOT Offshore Partners by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,227,035 shares of the shipping company’s stock worth $12,700,000 after purchasing an additional 32,369 shares in the last quarter. 26.82% of the stock is 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.