Nordic American Tankers (NYSE:NAT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nordic American Tankers (NYSE:NAT) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

Separately, Evercore downgraded Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target on the stock. in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $4.00.

Nordic American Tankers Price Performance

NYSE NAT opened at $6.17 on Friday. Nordic American Tankers has a 1 year low of $2.67 and a 1 year high of $6.70. The company has a fifty day simple moving average of $5.68 and a 200 day simple moving average of $5.25. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.31 billion, a P/E ratio of 22.83 and a beta of -0.57.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Thursday, May 28th. The shipping company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $77.51 million for the quarter, compared to the consensus estimate of $81.86 million. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. On average, sell-side analysts predict that Nordic American Tankers will post 0.58 EPS for the current year.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 14.3%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. Nordic American Tankers’s payout ratio is presently 325.93%.

Institutional Trading of Nordic American Tankers

A number of hedge funds have recently bought and sold shares of NAT. Dimensional Fund Advisors LP increased its holdings in shares of Nordic American Tankers by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company’s stock worth $71,430,000 after purchasing an additional 460,555 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Nordic American Tankers by 7.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,124,150 shares of the shipping company’s stock valued at $16,090,000 after buying an additional 369,462 shares during the last quarter. CenterBook Partners LP lifted its stake in shares of Nordic American Tankers by 110.1% in the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company’s stock valued at $12,729,000 after buying an additional 1,939,211 shares during the period. Millennium Management LLC lifted its stake in shares of Nordic American Tankers by 108.3% in the third quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company’s stock valued at $7,628,000 after buying an additional 1,263,228 shares during the period. Finally, UBS Group AG lifted its stake in shares of Nordic American Tankers by 83.9% in the third quarter. UBS Group AG now owns 2,277,830 shares of the shipping company’s stock valued at $7,152,000 after buying an additional 1,039,353 shares during the period. 44.29% of the stock is owned by institutional investors.

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.