Nordic American Tankers (NYSE:NAT) Stock Price Up 1.3%

Nordic American Tankers Limited (NYSE:NATGet Rating)’s share price rose 1.3% during trading on Tuesday . The company traded as high as $3.31 and last traded at $3.24. Approximately 113,002 shares were traded during trading, a decline of 98% from the average daily volume of 4,589,806 shares. The stock had previously closed at $3.20.

Analyst Upgrades and Downgrades

NAT has been the subject of a number of recent analyst reports. TheStreet upgraded Nordic American Tankers from a “d” rating to a “c” rating in a report on Tuesday, September 6th. StockNews.com upgraded Nordic American Tankers to a “sell” rating in a report on Wednesday, August 31st. Jefferies Financial Group upgraded Nordic American Tankers from a “hold” rating to a “buy” rating and upped their target price for the company from $3.00 to $4.00 in a report on Tuesday, September 6th. Finally, Clarkson Capital restated a “buy” rating on shares of Nordic American Tankers in a report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.38.

Nordic American Tankers Stock Performance

The business has a fifty day simple moving average of $2.58 and a 200-day simple moving average of $2.38. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.63. The firm has a market cap of $646.15 million, a P/E ratio of -6.07 and a beta of 0.07.

Nordic American Tankers (NYSE:NATGet Rating) last posted its quarterly earnings data on Tuesday, August 30th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. Nordic American Tankers had a negative return on equity of 17.36% and a negative net margin of 117.57%. During the same period in the prior year, the business earned ($0.18) earnings per share. On average, sell-side analysts predict that Nordic American Tankers Limited will post -0.04 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Thursday, September 15th will be issued a $0.03 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, September 14th. This represents a $0.12 dividend on an annualized basis and a yield of 3.59%. Nordic American Tankers’s dividend payout ratio is -14.55%.

Hedge Funds Weigh In On Nordic American Tankers

A number of institutional investors have recently added to or reduced their stakes in NAT. Northern Trust Corp raised its holdings in Nordic American Tankers by 8.3% in the fourth quarter. Northern Trust Corp now owns 1,220,341 shares of the shipping company’s stock worth $2,062,000 after purchasing an additional 93,998 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Nordic American Tankers by 87.9% during the fourth quarter. ProShare Advisors LLC now owns 36,735 shares of the shipping company’s stock valued at $62,000 after acquiring an additional 17,185 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Nordic American Tankers by 84.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 72,213 shares of the shipping company’s stock valued at $122,000 after acquiring an additional 33,107 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Nordic American Tankers by 144.2% during the fourth quarter. HighTower Advisors LLC now owns 101,604 shares of the shipping company’s stock valued at $172,000 after acquiring an additional 60,004 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Nordic American Tankers by 20.8% during the fourth quarter. Schroder Investment Management Group now owns 951,636 shares of the shipping company’s stock valued at $1,608,000 after acquiring an additional 163,864 shares in the last quarter. Institutional investors own 33.46% of the company’s stock.

Nordic American Tankers Company Profile

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Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 24 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011.

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