Empowered Funds LLC Acquires New Position in Nordic American Tankers Limited $NAT

Empowered Funds LLC acquired a new position in shares of Nordic American Tankers Limited (NYSE:NAT) during the 2nd quarter, HoldingsChannel reports. The firm acquired 995,365 shares of the shipping company’s stock, valued at approximately $5,514,000.

A number of other large investors have also recently bought and sold shares of NAT. Public Employees Retirement System of Ohio bought a new stake in Nordic American Tankers during the 2nd quarter valued at $30,000. FNY Investment Advisers LLC bought a new position in shares of Nordic American Tankers in the second quarter worth $32,000. ROI Financial Advisors LLC acquired a new position in shares of Nordic American Tankers during the fourth quarter valued at $36,000. Parkside Financial Bank & Trust raised its stake in shares of Nordic American Tankers by 2,800.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 10,500 shares in the last quarter. Finally, Stokes Family Office LLC bought a new stake in shares of Nordic American Tankers during the fourth quarter valued at about $37,000. Institutional investors own 44.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on NAT shares. Wall Street Zen raised shares of Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday. B. Riley Financial upped their price target on shares of Nordic American Tankers from $7.50 to $8.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.33.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $6.76 on Monday. The company has a current ratio of 3.27, a quick ratio of 3.05 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $6.35 and a two-hundred day moving average of $5.78. Nordic American Tankers Limited has a twelve month low of $3.00 and a twelve month high of $7.20. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 11.46 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $79.30 million during the quarter, compared to analysts’ expectations of $84.18 million. Nordic American Tankers had a net margin of 47.04% and a return on equity of 20.58%. As a group, analysts expect that Nordic American Tankers Limited will post 0.6 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.27 per share. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.22. This represents a $1.08 annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend is Thursday, September 10th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 325.93%.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.