KNOT Offshore Partners LP (NYSE:KNOP) Given Average Recommendation of "Moderate Buy" by Analysts

KNOT Offshore Partners LP (NYSE:KNOP - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the five research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.00.

Several research firms recently commented on KNOP. Zacks Research downgraded KNOT Offshore Partners from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 5th. Wall Street Zen downgraded KNOT Offshore Partners from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Fearnley Fonds upgraded KNOT Offshore Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, April 10th. B. Riley Financial upgraded KNOT Offshore Partners from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a report on Friday, March 20th. Finally, Weiss Ratings downgraded KNOT Offshore Partners from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 1st.

KNOT Offshore Partners Price Performance

Shares of NYSE:KNOP opened at $11.13 on Thursday. KNOT Offshore Partners has a 1-year low of $6.16 and a 1-year high of $11.55. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.26 and a quick ratio of 0.25. The business has a fifty day moving average price of $10.31 and a 200-day moving average price of $10.22. The company has a market capitalization of $374.47 million, a PE ratio of 16.36 and a beta of -0.07.

KNOT Offshore Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, April 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, April 27th. This is a positive change from KNOT Offshore Partners's previous quarterly dividend of $0.03. KNOT Offshore Partners's dividend payout ratio is 29.41%.

Institutional Investors Weigh In On KNOT Offshore Partners

Several large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in KNOT Offshore Partners by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company's stock worth $58,000 after buying an additional 4,836 shares in the last quarter. GSA Capital Partners LLP increased 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 in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of KNOT Offshore Partners during the 2nd quarter valued at about $68,000. Osaic Holdings Inc. grew its stake in shares of KNOT Offshore Partners by 220.3% during the 2nd quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company's stock valued at $104,000 after purchasing an additional 11,388 shares during the period. Finally, Cetera Investment Advisers bought a new stake in shares of KNOT Offshore Partners during the 4th quarter valued at about $125,000. 26.82% of the stock is currently owned by institutional investors.

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.

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