Goldman Sachs Group Inc. Purchases 221,478 Shares of Nordic American Tankers Limited (NYSE:NAT)

Goldman Sachs Group Inc. grew its stake in Nordic American Tankers Limited (NYSE:NAT) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,526,137 shares of the shipping company’s stock after buying an additional 221,478 shares during the quarter. Goldman Sachs Group Inc. owned approximately 3.60% of Nordic American Tankers worth $31,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NAT. Significant Wealth Partners LLC purchased a new position in Nordic American Tankers during the 4th quarter valued at approximately $4,267,000. Qube Research & Technologies Ltd lifted its stake in shares of Nordic American Tankers by 783.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 484,179 shares of the shipping company’s stock worth $1,995,000 after acquiring an additional 429,396 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Nordic American Tankers by 112.9% during the 3rd quarter. Rhumbline Advisers now owns 662,435 shares of the shipping company’s stock worth $2,729,000 after acquiring an additional 351,216 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Nordic American Tankers by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,296,248 shares of the shipping company’s stock valued at $43,245,000 after purchasing an additional 162,870 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Nordic American Tankers by 3.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,047,454 shares of the shipping company’s stock valued at $16,999,000 after purchasing an additional 152,166 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NAT. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Evercore ISI lowered their price target on Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating for the company in a research report on Thursday, February 29th. Finally, Jefferies Financial Group lowered their price target on Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with 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 a consensus rating of “Moderate Buy” and an average price target of $5.17.

Nordic American Tankers Stock Up 1.8 %

NYSE:NAT opened at $4.06 on Friday. The stock has a market capitalization of $847.73 million, a price-to-earnings ratio of 12.69 and a beta of -0.12. The company has a quick ratio of 0.60, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. Nordic American Tankers Limited has a 52 week low of $3.45 and a 52 week high of $4.83. The stock’s fifty day moving average is $4.03 and its two-hundred day moving average is $4.12.

Nordic American Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 11.82%. The ex-dividend date is Friday, June 28th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 150.00%.

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.