AXQ Capital LP Purchases Shares of 17,244 Nordic American Tankers Limited (NYSE:NAT)

AXQ Capital LP acquired a new position in shares of Nordic American Tankers Limited (NYSE:NAT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,244 shares of the shipping company’s stock, valued at approximately $43,000.

Several other institutional investors also recently modified their holdings of the stock. Two Sigma Advisers LP lifted its position in Nordic American Tankers by 67.6% during the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock valued at $13,851,000 after purchasing an additional 1,521,900 shares during the last quarter. Philip James Wealth Mangement LLC grew its position in Nordic American Tankers by 8.8% in the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company’s stock worth $3,016,000 after acquiring an additional 97,819 shares in the last quarter. Victory Capital Management Inc. increased its stake in Nordic American Tankers by 834.7% in the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in Nordic American Tankers by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock valued at $1,796,000 after purchasing an additional 7,382 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Nordic American Tankers by 1.1% during the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after purchasing an additional 5,439 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on NAT shares. StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Monday. Jefferies Financial Group reissued a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Stock Performance

NYSE NAT opened at $2.58 on Tuesday. The company has a 50-day simple moving average of $2.64 and a two-hundred day simple moving average of $2.96. Nordic American Tankers Limited has a 12-month low of $2.39 and a 12-month high of $4.40. The firm has a market cap of $537.65 million, a price-to-earnings ratio of 8.88 and a beta of -0.33. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. On average, equities analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 9.32%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s payout ratio 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.