ValuEngine lowered shares of Nordic American Tanker (NYSE:NAT) from a sell rating to a strong sell rating in a research note published on Sunday morning.
NAT has been the subject of a number of other reports. Zacks Investment Research cut Nordic American Tanker from a hold rating to a strong sell rating in a report on Tuesday, October 10th. Jefferies Group upgraded Nordic American Tanker from an underperform rating to a hold rating and set a $3.00 price objective for the company in a report on Thursday, December 14th. Morgan Stanley cut their price objective on Nordic American Tanker from $6.50 to $5.00 and set an equal weight rating for the company in a report on Wednesday, November 8th. Finally, Maxim Group reiterated a sell rating on shares of Nordic American Tanker in a report on Monday, November 6th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company’s stock. Nordic American Tanker currently has an average rating of Hold and a consensus target price of $5.17.
Nordic American Tanker (NYSE:NAT) traded up $0.05 on Friday, hitting $2.62. The stock had a trading volume of 1,949,400 shares, compared to its average volume of 2,412,950. Nordic American Tanker has a 1 year low of $2.45 and a 1 year high of $9.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71. The stock has a market cap of $366.93, a PE ratio of -2.88 and a beta of 0.89.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Monday, November 13th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Friday, November 10th. Nordic American Tanker’s dividend payout ratio is presently -13.19%.
A number of hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC purchased a new stake in Nordic American Tanker during the 3rd quarter valued at about $241,000. Schwab Charles Investment Management Inc. boosted its holdings in Nordic American Tanker by 25.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 545,650 shares of the shipping company’s stock valued at $2,914,000 after acquiring an additional 110,365 shares during the period. Wells Fargo & Company MN boosted its holdings in Nordic American Tanker by 17.0% during the 3rd quarter. Wells Fargo & Company MN now owns 569,292 shares of the shipping company’s stock valued at $3,040,000 after acquiring an additional 82,687 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Nordic American Tanker during the 3rd quarter valued at about $158,000. Finally, Advisor Group Inc. boosted its holdings in Nordic American Tanker by 13.4% during the 3rd quarter. Advisor Group Inc. now owns 145,885 shares of the shipping company’s stock valued at $778,000 after acquiring an additional 17,263 shares during the period. Institutional investors own 23.58% of the company’s stock.
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Nordic American Tanker Company Profile
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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