KNOT Offshore Partners LP (NYSE:KNOP) Position Raised by HRT Financial LP

Posted by Defense World Staff on Jun 2nd, 2023

HRT Financial LP increased its position in shares of KNOT Offshore Partners LP (NYSE:KNOP – Get Rating) by 566.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,339 shares of the shipping company’s stock after purchasing an additional 75,082 shares during the period. HRT Financial LP owned 0.26% of KNOT Offshore Partners worth $850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in KNOT Offshore Partners by 4.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,008,991 shares of the shipping company’s stock worth $9,717,000 after purchasing an additional 40,317 shares in the last quarter. Naples Global Advisors LLC grew its position in KNOT Offshore Partners by 40.2% in the fourth quarter. Naples Global Advisors LLC now owns 84,110 shares of the shipping company’s stock worth $810,000 after buying an additional 24,128 shares during the last quarter. LPL Financial LLC grew its position in KNOT Offshore Partners by 15.7% in the second quarter. LPL Financial LLC now owns 32,244 shares of the shipping company’s stock worth $528,000 after buying an additional 4,374 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in KNOT Offshore Partners in the third quarter worth approximately $182,000. Finally, Arrow Investment Advisors LLC acquired a new position in KNOT Offshore Partners in the third quarter worth approximately $167,000. Institutional investors own 15.93% of the company’s stock.

KNOT Offshore Partners Trading Up 2.8 %

KNOT Offshore Partners stock opened at $5.22 on Friday. The company’s fifty day simple moving average is $4.88 and its 200-day simple moving average is $7.12. The company has a quick ratio of 0.21, a current ratio of 0.22 and a debt-to-equity ratio of 1.18. KNOT Offshore Partners LP has a 12 month low of $4.28 and a 12 month high of $18.70. The stock has a market cap of $177.27 million, a P/E ratio of 5.80 and a beta of 0.82.

KNOT Offshore Partners (NYSE:KNOP – Get Rating) last posted its quarterly earnings results on Tuesday, March 14th. The shipping company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). KNOT Offshore Partners had a net margin of 11.14% and a return on equity of 5.32%. The company had revenue of $71.61 million for the quarter, compared to analysts’ expectations of $68.70 million. As a group, sell-side analysts forecast that KNOT Offshore Partners LP will post -0.18 EPS for the current fiscal year.

KNOT Offshore Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 11th. Investors of record on Thursday, April 27th were paid a $0.026 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, April 26th. KNOT Offshore Partners’s payout ratio is presently 11.11%.

Analyst Upgrades and Downgrades

KNOP has been the topic of several research analyst reports. StockNews.com cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. TheStreet cut shares of KNOT Offshore Partners from a “c-” rating to a “d+” rating in a research report on Monday, April 17th. Finally, Alliance Global Partners upgraded shares of KNOT Offshore Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday.

KNOT Offshore Partners Profile

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KNOT Offshore Partners LP is engages in the operation and acquisition of shuttle tankers under long-term charters. Its fleet consists of sixteen shuttle tankers, which are vessels designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries.