Nordic American Tankers Limited $NAT Shares Newly Bought by Alps Advisors Inc.

Alps Advisors Inc. acquired a new position in shares of Nordic American Tankers Limited (NYSE:NAT) during the 3rd quarter, HoldingsChannel reports. The firm acquired 76,060 shares of the shipping company’s stock, valued at approximately $601,000.

A number of other large investors have also recently bought and sold shares of NAT. BlackRock Inc. lifted its holdings in shares of Nordic American Tankers by 6.2% in the 2nd quarter. BlackRock Inc. now owns 12,764,448 shares of the shipping company’s stock worth $70,715,000 after purchasing an additional 746,279 shares during the last quarter. Bank of America Corp DE acquired a new stake in Nordic American Tankers in the second quarter worth $1,890,000. Dimensional Fund Advisors LP lifted its stake in Nordic American Tankers by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company’s stock valued at $71,430,000 after buying an additional 460,555 shares during the last quarter. Tidal Investments LLC lifted its stake in Nordic American Tankers by 108.2% in the second quarter. Tidal Investments LLC now owns 279,390 shares of the shipping company’s stock valued at $1,548,000 after buying an additional 145,184 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Nordic American Tankers during the second quarter valued at approximately $1,692,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Price Performance

NYSE NAT opened at $6.72 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.27 and a quick ratio of 3.05. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.40 and a beta of -0.50. The company has a 50 day simple moving average of $7.68 and a 200-day simple moving average of $6.21. Nordic American Tankers Limited has a 52-week low of $3.33 and a 52-week high of $8.88.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Thursday, August 27th. The shipping company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $79.30 million for the quarter, compared to analyst estimates of $84.18 million. Nordic American Tankers had a net margin of 47.04% and a return on equity of 20.58%. Equities research analysts predict that Nordic American Tankers Limited will post 0.60 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were issued a $0.27 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a yield of 16.1%. The ex-dividend date was Thursday, September 10th. Nordic American Tankers’s dividend payout ratio is currently 183.05%.

Wall Street Analyst Weigh In

NAT has been the topic of several analyst reports. Wall Street Zen cut Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Evercore reissued an “underperform” rating and set a $7.00 target price on shares of Nordic American Tankers in a research note on Tuesday, October 27th. Weiss Ratings downgraded shares of Nordic American Tankers from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Finally, B. Riley Financial upped their price target on shares of Nordic American Tankers from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nordic American Tankers presently has a consensus rating of “Hold” and an average price target of $6.83.

About Nordic American Tankers

Nordic American Tankers Limited owns and operates tankers that transport crude oil by sea. Its fleet is focused on Suezmax vessels, a class of tanker designed to carry crude oil through the Suez Canal, and the company serves customers in the international oil and shipping markets. Founded in 1995, the company operates internationally, with its vessels transporting crude oil on routes around the world. Its business is tied to demand for seaborne oil transportation and the availability of tanker capacity.