Nordic American Tankers (NYSE:NAT) Upgraded at StockNews.com

StockNews.com upgraded shares of Nordic American Tankers (NYSE:NAT) from a sell rating to a hold rating in a research report report published on Wednesday.

Other research analysts have also issued reports about the stock. Jefferies Financial Group reiterated a hold rating and issued a $4.00 target price on shares of Nordic American Tankers in a research note on Thursday, September 12th. Evercore ISI reduced their target price on Nordic American Tankers from $4.50 to $4.00 and set an in-line rating for the company in a research report on Friday, August 30th.

Nordic American Tankers Trading Down 0.3 %

Shares of NAT opened at $3.79 on Wednesday. Nordic American Tankers has a 1-year low of $3.31 and a 1-year high of $4.83. The business’s 50-day moving average price is $3.63 and its 200 day moving average price is $3.85. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $791.34 million, a P/E ratio of 11.84 and a beta of -0.20.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same quarter in the prior year, the business earned $0.13 EPS. Analysts expect that Nordic American Tankers will post 0.38 earnings per share for the current year.

Nordic American Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 annualized dividend and a dividend yield of 12.66%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 150.00%.

Institutional Trading of Nordic American Tankers

Large investors have recently bought and sold shares of the stock. ProShare Advisors LLC increased its holdings in shares of Nordic American Tankers by 8.5% during the first quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock worth $145,000 after buying an additional 2,904 shares in the last quarter. Kingswood Wealth Advisors LLC grew its position in Nordic American Tankers by 6.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock worth $185,000 after acquiring an additional 3,003 shares during the last quarter. Pettinga Financial Advisors LLC increased its holdings in Nordic American Tankers by 38.3% during the 1st quarter. Pettinga Financial Advisors LLC now owns 15,900 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 4,400 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Nordic American Tankers by 50.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after purchasing an additional 5,347 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Nordic American Tankers in the second quarter worth $25,000. 44.29% of the stock is currently owned by institutional investors.

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 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.