Key Points
- Director Trygve Seglem bought 1,250,000 shares of KNOT Offshore Partners at $20.00 each, a $25 million transaction that raised his direct stake to 1,458,333 shares.
- KNOT Offshore Partners reported quarterly EPS of $0.08, missing analyst expectations of $0.17, though revenue of $92.01 million came in slightly above estimates.
- The company recently increased its quarterly dividend to $0.05 per share from $0.03, implying a 1.9% annualized yield.
KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) Director Trygve Seglem acquired 1,250,000 shares of KNOT Offshore Partners stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $20.00 per share, with a total value of $25,000,000.00. Following the completion of the purchase, the director directly owned 1,458,333 shares in the company, valued at $29,166,660. This represents a 600.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
KNOT Offshore Partners Trading Down 1.0%
NYSE:KNOP opened at $10.40 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.24. The firm has a market capitalization of $350.20 million, a price-to-earnings ratio of 19.27 and a beta of -0.06. KNOT Offshore Partners LP has a one year low of $6.16 and a one year high of $11.78. The business has a fifty day moving average price of $10.72 and a 200-day moving average price of $10.50.
KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.09). The company had revenue of $92.01 million during the quarter, compared to analysts' expectations of $90.35 million. KNOT Offshore Partners had a return on equity of 6.36% and a net margin of 4.92%. Sell-side analysts forecast that KNOT Offshore Partners LP will post 0.14 EPS for the current year.
KNOT Offshore Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, April 27th were paid a $0.05 dividend. This is a positive change from KNOT Offshore Partners's previous quarterly dividend of $0.03. The ex-dividend date was Monday, April 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.9%. KNOT Offshore Partners's dividend payout ratio (DPR) is currently 37.04%.
Analyst Upgrades and Downgrades
KNOP has been the subject of several analyst reports. Wall Street Zen lowered KNOT Offshore Partners from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Fearnley Fonds upgraded KNOT Offshore Partners from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 10th. Weiss Ratings lowered KNOT Offshore Partners from a "buy (b-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Finally, B. Riley Financial raised 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 report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, KNOT Offshore Partners has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.
Get Our Latest Stock Analysis on KNOT Offshore Partners
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. American Beacon Advisors Inc. boosted its holdings 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 buying an additional 325,588 shares during the period. GSA Capital Partners LLP boosted its holdings 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 during the period. Acadian Asset Management LLC bought a new position in KNOT Offshore Partners in the 1st quarter worth $130,000. Cetera Investment Advisers bought a new position in KNOT Offshore Partners in the 4th quarter worth $125,000. Finally, Osaic Holdings Inc. boosted its holdings in KNOT Offshore Partners by 220.3% in the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company's stock worth $104,000 after buying an additional 11,388 shares during the period. Institutional investors own 26.82% of the company's stock.
About KNOT Offshore Partners
(
Get Free Report)
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.
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