Barclays PLC Increases Position in Nordic American Tankers Limited (NYSE:NAT)

Barclays PLC lifted its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,588 shares of the shipping company’s stock after buying an additional 38,473 shares during the quarter. Barclays PLC’s holdings in Nordic American Tankers were worth $767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC acquired a new position in Nordic American Tankers during the 4th quarter worth $26,000. Summit Financial LLC bought a new position in shares of Nordic American Tankers during the fourth quarter worth about $32,000. Avantax Advisory Services Inc. acquired a new position in Nordic American Tankers in the fourth quarter worth about $33,000. AXQ Capital LP bought a new stake in Nordic American Tankers in the fourth quarter valued at about $43,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Nordic American Tankers during the 4th quarter worth approximately $43,000. 44.29% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $2.65 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The firm has a market capitalization of $560.08 million, a PE ratio of 9.12 and a beta of -0.27. Nordic American Tankers Limited has a 1-year low of $2.13 and a 1-year high of $4.40. The business’s fifty day moving average price is $2.49 and its two-hundred day moving average price is $2.70.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The firm had revenue of $46.39 million during the quarter, compared to the consensus estimate of $51.38 million. On average, research analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.06 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 9.07%. Nordic American Tankers’s dividend payout ratio (DPR) is 109.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NAT shares. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, April 9th. Jefferies Financial Group restated a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research report on Friday, February 28th.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.