Commonwealth Equity Services LLC Increases Position in Nordic American Tankers Limited (NYSE:NAT)

Commonwealth Equity Services LLC boosted its holdings in Nordic American Tankers Limited (NYSE:NAT) by 30.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 308,463 shares of the shipping company’s stock after purchasing an additional 72,139 shares during the period. Commonwealth Equity Services LLC owned about 0.15% of Nordic American Tankers worth $1,228,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. TrueMark Investments LLC acquired a new position in shares of Nordic American Tankers in the 2nd quarter valued at approximately $4,373,000. Prevail Innovative Wealth Advisors LLC acquired a new stake in Nordic American Tankers in the first quarter valued at $2,443,000. Russell Investments Group Ltd. boosted its stake in Nordic American Tankers by 36,804.9% during the 1st quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock valued at $2,432,000 after acquiring an additional 618,690 shares during the last quarter. Vanguard Group Inc. grew its holdings in Nordic American Tankers by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock worth $6,595,000 after acquiring an additional 275,707 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Nordic American Tankers by 3.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock worth $31,610,000 after purchasing an additional 221,478 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 0.6 %

Nordic American Tankers stock opened at $3.63 on Monday. Nordic American Tankers Limited has a 1 year low of $3.31 and a 1 year high of $4.83. The firm’s 50-day moving average is $3.65 and its 200-day moving average is $3.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.60 and a current ratio of 0.77. The company has a market cap of $757.94 million, a P/E ratio of 11.34 and a beta of -0.19.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.56%. The firm had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. On average, equities analysts expect that Nordic American Tankers Limited will post 0.41 earnings per share for the current year.

Nordic American Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a yield of 13.22%. Nordic American Tankers’s dividend payout ratio is currently 150.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Evercore ISI reduced their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a report on Friday, August 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 price target on shares of Nordic American Tankers in a report on Thursday.

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.