Pettinga Financial Advisors LLC Boosts Holdings in Nordic American Tankers Limited (NYSE:NAT)

Pettinga Financial Advisors LLC grew its position in Nordic American Tankers Limited (NYSE:NAT) by 38.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,900 shares of the shipping company’s stock after buying an additional 4,400 shares during the period. Pettinga Financial Advisors LLC’s holdings in Nordic American Tankers were worth $62,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of 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 worth $43,245,000 after purchasing an additional 162,870 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Nordic American Tankers by 3.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock worth $31,610,000 after buying an additional 221,478 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 worth $16,999,000 after buying an additional 152,166 shares in the last quarter. Greylin Investment Management Inc lifted its holdings in Nordic American Tankers by 1.2% during the 4th quarter. Greylin Investment Management Inc now owns 1,121,360 shares of the shipping company’s stock worth $4,710,000 after buying an additional 13,200 shares in the last quarter. Finally, Significant Wealth Partners LLC acquired a new stake in Nordic American Tankers during the 4th quarter worth approximately $4,267,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Price Performance

Shares of NAT opened at $3.99 on Monday. Nordic American Tankers Limited has a twelve month low of $3.58 and a twelve month high of $4.83. The firm’s fifty day simple moving average is $4.06 and its 200-day simple moving average is $4.13. The firm has a market capitalization of $833.11 million, a price-to-earnings ratio of 12.44 and a beta of -0.16. The company has a current ratio of 0.77, a quick ratio of 0.60 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $66.19 million. Equities analysts forecast that Nordic American Tankers Limited will post 0.47 EPS for the current fiscal year.

Nordic American Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.03%. Nordic American Tankers’s payout ratio is 150.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Jefferies Financial Group reduced their target price on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Nordic American Tankers currently has an average rating of “Moderate Buy” and a consensus price target of $5.17.

Nordic American Tankers 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.