KNOT Offshore Partners (NYSE:KNOP) Releases Quarterly Earnings Results

Key Points

• KNOT Offshore Partners reported a quarterly earnings per share (EPS) of $0.20, exceeding analyst expectations of $0.17.
• The company declared a quarterly dividend of $0.026 per share, resulting in an annualized yield of 1.1% with a payout ratio of 24.39%.
• Analyst ratings for KNOT Offshore Partners include a consensus rating of "Buy", with at least one analyst upgrading the stock from a "hold" to a "buy".

KNOT Offshore Partners (NYSE:KNOP - Get Free Report) released its quarterly earnings results on Thursday. The shipping company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.03, Zacks reports. KNOT Offshore Partners had a return on equity of 4.35% and a net margin of 4.36%.

KNOT Offshore Partners Stock Performance

NYSE:KNOP traded up $0.08 on Thursday, hitting $9.41. The company's stock had a trading volume of 217,180 shares, compared to its average volume of 70,082. KNOT Offshore Partners has a one year low of $5.28 and a one year high of $9.50. The firm has a market capitalization of $322.59 million, a P/E ratio of 22.94 and a beta of -0.06. The stock has a fifty day moving average of $7.70 and a two-hundred day moving average of $6.91. The company has a current ratio of 0.34, a quick ratio of 0.33 and a debt-to-equity ratio of 1.31.

KNOT Offshore Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Monday, July 28th were given a dividend of $0.026 per share. This represents a $0.10 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, July 28th. KNOT Offshore Partners's payout ratio is 24.39%.

Hedge Funds Weigh In On KNOT Offshore Partners

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in shares of KNOT Offshore Partners during the 1st quarter worth approximately $130,000. Osaic Holdings Inc. grew its position in KNOT Offshore Partners by 220.3% during 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 in the last quarter. Occudo Quantitative Strategies LP acquired a new position in KNOT Offshore Partners in the 2nd quarter valued at $68,000. Finally, Russell Investments Group Ltd. raised 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 valued at $58,000 after acquiring an additional 4,836 shares in the last quarter. 26.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

KNOP has been the subject of a number of research analyst reports. Wall Street Zen raised shares of KNOT Offshore Partners from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Zacks Research raised KNOT Offshore Partners to a "hold" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

About KNOT Offshore Partners

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.

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