StockNews.com lowered shares of Nordic American Tankers (NYSE:NAT – Free Report) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
Separately, Jefferies Financial Group dropped their price target on Nordic American Tankers from $5.50 to $5.00 and set a buy rating on the stock in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $5.17.
Read Our Latest Analysis on Nordic American Tankers
Nordic American Tankers Trading Up 1.8 %
Nordic American Tankers (NYSE:NAT – Get Free Report) last released its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). Nordic American Tankers had a net margin of 28.37% and a return on equity of 12.43%. The firm had revenue of $60.57 million for the quarter, compared to the consensus estimate of $66.19 million. On average, analysts predict that Nordic American Tankers will post 0.41 EPS for the current fiscal year.
Nordic American Tankers Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Friday, June 28th were given a dividend of $0.12 per share. The ex-dividend date was Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.96%. Nordic American Tankers’s dividend payout ratio is presently 150.00%.
Hedge Funds Weigh In On Nordic American Tankers
Several large investors have recently modified their holdings of the business. Magnolia Capital Advisors LLC bought a new position in Nordic American Tankers in the 2nd quarter worth approximately $176,000. Millennium Management LLC raised its holdings in Nordic American Tankers by 122.8% during the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after acquiring an additional 711,973 shares during the period. AQR Capital Management LLC lifted its position in shares of Nordic American Tankers by 180.9% during the second quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company’s stock worth $1,674,000 after acquiring an additional 270,946 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Nordic American Tankers by 9.1% in the second quarter. Sei Investments Co. now owns 91,791 shares of the shipping company’s stock worth $365,000 after acquiring an additional 7,663 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Nordic American Tankers in the second quarter valued at $260,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.
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.
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