KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) Director Trygve Seglem purchased 2,083,333 shares of the stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average cost of $20.88 per share, for a total transaction of $43,499,993.04. Following the acquisition, the director directly owned 3,541,666 shares in the company, valued at approximately $73,949,986.08. This trade represents a 142.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
KNOT Offshore Partners Stock Down 1.4%
KNOP opened at $8.75 on Thursday. The firm has a market cap of $294.49 million, a price-to-earnings ratio of 19.88 and a beta of -0.01. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.33 and a current ratio of 0.34. The firm's 50-day simple moving average is $10.46 and its 200-day simple moving average is $10.50. KNOT Offshore Partners LP has a twelve month low of $8.06 and a twelve month high of $11.78.
KNOT Offshore Partners (NYSE:KNOP - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The shipping company reported $0.05 earnings per share for the quarter. The firm had revenue of $96.78 million during the quarter. KNOT Offshore Partners had a net margin of 3.90% and a return on equity of 5.73%. Equities research analysts anticipate that KNOT Offshore Partners LP will post 0.22 EPS for the current fiscal year.
KNOT Offshore Partners Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 26th will be given a dividend of $0.10 per share. This is an increase from KNOT Offshore Partners's previous quarterly dividend of $0.0750. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, October 26th. KNOT Offshore Partners's payout ratio is 90.91%.
Institutional Trading of KNOT Offshore Partners
Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in KNOT Offshore Partners by 8.8% in the first quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company's stock valued at $13,461,000 after acquiring an additional 108,400 shares during the last quarter. American Beacon Advisors Inc. boosted its position in KNOT Offshore Partners by 71.8% during the 2nd quarter. American Beacon Advisors Inc. now owns 865,554 shares of the shipping company's stock worth $8,638,000 after buying an additional 361,659 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of KNOT Offshore Partners during the first quarter worth $643,000. Royal Bank of Canada bought a new stake in shares of KNOT Offshore Partners in the 1st quarter valued at about $25,000. Finally, Walleye Capital LLC bought a new stake in KNOT Offshore Partners in the first quarter valued at approximately $259,000. Institutional investors own 26.82% of the company's stock.
Analyst Upgrades and Downgrades
KNOP has been the subject of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of KNOT Offshore Partners in a report on Tuesday, October 27th. Zacks Research upgraded shares of KNOT Offshore Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded KNOT Offshore Partners from a "sell" rating to a "hold" rating in a research note on Sunday, September 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $14.00.
Get Our Latest Research Report on KNOT Offshore Partners
KNOT Offshore Partners Company Profile
(
Get Free Report)
KNOT Offshore Partners LP (NYSE: KNOP) is a publicly traded limited partnership that owns and operates shuttle tankers. These specialized vessels transport crude oil from offshore production facilities and loading terminals to onshore refineries, storage facilities and other destinations.
The partnership's vessels are generally employed under long-term or medium-term charter contracts with major oil and gas companies. Shuttle tankers are equipped with systems designed for offshore loading and unloading, including dynamic positioning and specialized bow-loading technology, enabling them to operate in demanding offshore environments.
KNOT Offshore Partners was formed by its sponsor, KNOT Offshore Partners AS, which is part of the KNOT group, a maritime organization associated with Knutsen OAS Shipping and Nippon Yusen Kabushiki Kaisha.
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