KNOT Offshore Partners Target of Unusually High Options Trading (NYSE:KNOP)

KNOT Offshore Partners LP (NYSE:KNOP) was the recipient of some unusual options trading on Tuesday. Traders purchased 448 put options on the stock. This represents an increase of approximately 745% compared to the average volume of 53 put options.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC acquired a new position in KNOT Offshore Partners during the 1st quarter worth $847,000. Green Square Capital LLC boosted its position in shares of KNOT Offshore Partners by 0.7% during the 4th quarter. Green Square Capital LLC now owns 376,090 shares of the shipping company’s stock worth $7,804,000 after acquiring an additional 2,670 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of KNOT Offshore Partners by 36.8% during the 4th quarter. Citadel Advisors LLC now owns 14,779 shares of the shipping company’s stock worth $307,000 after acquiring an additional 3,979 shares in the last quarter. Millennium Management LLC boosted its position in shares of KNOT Offshore Partners by 246.4% during the 4th quarter. Millennium Management LLC now owns 43,294 shares of the shipping company’s stock worth $898,000 after acquiring an additional 30,795 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of KNOT Offshore Partners by 16.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 80,150 shares of the shipping company’s stock worth $1,663,000 after acquiring an additional 11,400 shares in the last quarter. 41.51% of the stock is owned by hedge funds and other institutional investors.

KNOP has been the topic of several research analyst reports. Zacks Investment Research downgraded KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Saturday, February 24th. TheStreet downgraded KNOT Offshore Partners from a “b-” rating to a “c” rating in a report on Wednesday, June 6th. ValuEngine downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Citigroup cut their price objective on KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, March 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $22.50.

KNOT Offshore Partners traded up $0.02, hitting $21.50, on Thursday, according to MarketBeat Ratings. 81,200 shares of the company were exchanged, compared to its average volume of 108,819. KNOT Offshore Partners has a twelve month low of $19.15 and a twelve month high of $24.00. The stock has a market capitalization of $699.65 million, a price-to-earnings ratio of 9.51 and a beta of 0.67. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.47 and a quick ratio of 0.45.

KNOT Offshore Partners (NYSE:KNOP) last released its earnings results on Tuesday, June 5th. The shipping company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.39. KNOT Offshore Partners had a return on equity of 13.85% and a net margin of 36.06%. The firm had revenue of $68.04 million during the quarter, compared to analysts’ expectations of $68.51 million. research analysts anticipate that KNOT Offshore Partners will post 2.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Wednesday, May 2nd were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, May 1st. This represents a $2.08 annualized dividend and a yield of 9.67%. KNOT Offshore Partners’s payout ratio is 92.04%.

About KNOT Offshore Partners

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides crude oil loading, transportation, and storage services under time charters and bareboat charters. As of June 30, 2017, it had a fleet of 13 shuttle tankers. KNOT Offshore Partners GP LLC serves as the general partner of the company.

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