Nordic American Tankers Limited (NYSE:NAT) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its holdings in shares of Nordic American Tankers Limited (NYSE:NATFree Report) by 62.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,893 shares of the shipping company’s stock after selling 43,848 shares during the quarter. Citigroup Inc.’s holdings in Nordic American Tankers were worth $111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NAT. Barclays PLC lifted its holdings in Nordic American Tankers by 88.5% in the 3rd quarter. Barclays PLC now owns 77,203 shares of the shipping company’s stock worth $318,000 after buying an additional 36,245 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Nordic American Tankers by 783.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 484,179 shares of the shipping company’s stock worth $1,995,000 after purchasing an additional 429,396 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth about $846,000. Greylin Investment Management Inc increased its position in shares of Nordic American Tankers by 11.1% in the 3rd quarter. Greylin Investment Management Inc now owns 1,108,160 shares of the shipping company’s stock worth $4,566,000 after purchasing an additional 110,274 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Nordic American Tankers by 112.9% during the 3rd quarter. Rhumbline Advisers now owns 662,435 shares of the shipping company’s stock valued at $2,729,000 after buying an additional 351,216 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 0.3 %

NYSE NAT opened at $3.92 on Friday. Nordic American Tankers Limited has a twelve month low of $3.26 and a twelve month high of $4.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.55. The stock has a market cap of $818.50 million, a price-to-earnings ratio of 8.34 and a beta of -0.10. The firm’s 50 day moving average price is $4.13 and its two-hundred day moving average price is $4.20.

Nordic American Tankers (NYSE:NATGet Free Report) last posted its quarterly earnings data on Friday, March 1st. The shipping company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). Nordic American Tankers had a return on equity of 18.12% and a net margin of 37.65%. The firm had revenue of $59.25 million for the quarter, compared to analysts’ expectations of $68.90 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Equities analysts anticipate that Nordic American Tankers Limited will post 0.63 EPS for the current year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th will be issued a dividend of $0.12 per share. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.06. This represents a $0.48 annualized dividend and a dividend yield of 12.24%. The ex-dividend date of this dividend is Tuesday, March 19th. Nordic American Tankers’s payout ratio is currently 102.13%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NAT. Evercore ISI lowered their price objective on shares of Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating for the company in a research report on Thursday, February 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $5.50 price target on shares of Nordic American Tankers in a research note on Thursday, February 29th. Finally, TheStreet lowered shares of Nordic American Tankers from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Nordic American Tankers currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Check Out Our Latest Report on Nordic American Tankers

Nordic American Tankers Company Profile

(Free Report)

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.

Featured Articles

Institutional Ownership by Quarter for Nordic American Tankers (NYSE:NAT)

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.