Nordic American Tankers Limited (NYSE:NAT – Get Rating)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $3.53 and last traded at $3.47, with a volume of 72591 shares. The stock had previously closed at $3.51.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Jefferies Financial Group raised shares of Nordic American Tankers from a “hold” rating to a “buy” rating and raised their price target for the stock from $3.00 to $4.00 in a research report on Tuesday, September 6th. TheStreet raised shares of Nordic American Tankers from a “d” rating to a “c” rating in a research report on Tuesday, September 6th. Clarkson Capital reiterated a “buy” rating on shares of Nordic American Tankers in a research note on Tuesday, June 14th. Finally, StockNews.com upgraded shares of Nordic American Tankers to a “sell” rating in a research note on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.38.
Nordic American Tankers Price Performance
The stock has a market capitalization of $650.02 million, a price-to-earnings ratio of -6.11 and a beta of 0.07. 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 business’s 50 day simple moving average is $2.72 and its 200-day simple moving average is $2.42.
Nordic American Tankers Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Thursday, September 15th will be paid a $0.03 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, September 14th. Nordic American Tankers’s dividend payout ratio (DPR) is presently -21.82%.
Institutional Investors Weigh In On Nordic American Tankers
A number of hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC acquired a new stake in shares of Nordic American Tankers in the 2nd quarter valued at approximately $52,000. Goldman Sachs Group Inc. boosted its position in Nordic American Tankers by 263.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,243,172 shares of the shipping company’s stock worth $2,648,000 after buying an additional 900,861 shares during the period. State Street Corp boosted its position in Nordic American Tankers by 0.3% during the 2nd quarter. State Street Corp now owns 3,369,776 shares of the shipping company’s stock worth $7,245,000 after buying an additional 9,194 shares during the period. Point72 Asset Management L.P. acquired a new stake in Nordic American Tankers during the 2nd quarter worth approximately $212,000. Finally, Quantbot Technologies LP acquired a new stake in Nordic American Tankers during the 2nd quarter worth approximately $30,000. 33.46% of the stock is currently owned by institutional investors and hedge funds.
About Nordic American Tankers
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.
- Get a free copy of the StockNews.com research report on Nordic American Tankers (NAT)
- The Worst May be Over for Target, But is the Stock Safe to Buy?
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Two Fun Stocks The Insiders Are Buying
- Novavax Remains a Risk-On Stock in a Risk-Off Market
- General Mills: Superior Returns With Less Volatility
Receive News & Ratings for Nordic American Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers and related companies with MarketBeat.com's FREE daily email newsletter.