Nordic American Tankers Limited (NYSE:NAT) Stock Position Raised by Ellevest Inc.

Ellevest Inc. lifted its position in Nordic American Tankers Limited (NYSE:NAT) by 66.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,654 shares of the shipping company’s stock after acquiring an additional 11,436 shares during the quarter. Ellevest Inc.’s holdings in Nordic American Tankers were worth $72,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Barclays PLC lifted its position in shares of Nordic American Tankers by 274.8% in the 3rd quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock valued at $984,000 after acquiring an additional 196,571 shares in the last quarter. Norges Bank purchased a new stake in shares of Nordic American Tankers in the 4th quarter valued at approximately $1,202,000. Commonwealth Equity Services LLC lifted its position in shares of Nordic American Tankers by 33.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 438,641 shares of the shipping company’s stock valued at $1,097,000 after acquiring an additional 109,093 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Nordic American Tankers by 68.8% in the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock valued at $2,445,000 after acquiring an additional 398,700 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Nordic American Tankers by 834.7% in the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock valued at $1,363,000 after acquiring an additional 486,710 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NAT shares. 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. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, April 9th.

Nordic American Tankers Stock Up 1.2%

Nordic American Tankers stock opened at $2.60 on Monday. The firm has a market cap of $550.55 million, a PE ratio of 8.97 and a beta of -0.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The firm’s 50 day moving average price is $2.50 and its two-hundred day moving average price is $2.67. Nordic American Tankers Limited has a twelve month low of $2.13 and a twelve month high of $4.40.

Nordic American Tankers (NYSE:NAT) last released 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). The company had revenue of $46.39 million during the quarter, compared to analyst estimates of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. On average, research analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 9.23%. Nordic American Tankers’s dividend payout ratio (DPR) is 109.09%.

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.