KNOT Offshore Partners LP (NYSE:KNOP) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts have given KNOT Offshore Partners a consensus rating of "Moderate Buy" from five covering firms (three holds, one buy, one strong buy), with an average 12‑month target price of $14.00.
• The partnership raised its quarterly dividend to $0.05 (annualized $0.20) for a 2.0% yield; the record date is April 27 and the payment date is May 14.
• Shares trade around $10.18 with a market cap of about $346M, a P/E of 14.96, a 1‑year range of $6.06–$11.15, low liquidity (current ratio 0.26) and a debt‑to‑equity ratio of 1.07.

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

Several analysts have issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of KNOT Offshore Partners in a report on Thursday, January 22nd. Wall Street Zen downgraded KNOT Offshore Partners from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. B. Riley Financial upgraded KNOT Offshore Partners from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a report on Friday, March 20th. Zacks Research downgraded KNOT Offshore Partners from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 5th. Finally, Fearnley Fonds raised KNOT Offshore Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday.

KNOT Offshore Partners Price Performance

NYSE KNOP opened at $10.18 on Friday. The stock's 50-day moving average price is $10.28 and its two-hundred day moving average price is $10.02. The company has a current ratio of 0.26, a quick ratio of 0.25 and a debt-to-equity ratio of 1.07. The company has a market cap of $346.36 million, a PE ratio of 14.96 and a beta of -0.10. KNOT Offshore Partners has a 1 year low of $6.06 and a 1 year high of $11.15.

KNOT Offshore Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, April 27th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.0%. This is a boost from KNOT Offshore Partners's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Monday, April 27th. KNOT Offshore Partners's payout ratio is 14.71%.

Institutional Trading of KNOT Offshore Partners

Several hedge funds and other institutional investors have recently modified their holdings of KNOP. Acadian Asset Management LLC acquired a new stake in shares of KNOT Offshore Partners in the first quarter worth $130,000. Russell Investments Group Ltd. boosted its position in shares of KNOT Offshore Partners by 115.0% in the second 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 during the period. Occudo Quantitative Strategies LP acquired a new stake in shares of KNOT Offshore Partners in the second quarter worth $68,000. Osaic Holdings Inc. boosted its position in shares of KNOT Offshore Partners by 220.3% in the second 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. Finally, GSA Capital Partners LLP boosted its position in shares of KNOT Offshore Partners by 11.5% in the third 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. Institutional investors and hedge funds own 26.82% of the company's stock.

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.

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