Wealth Enhancement Advisory Services LLC Purchases 6,940 Shares of Nordic American Tankers Limited (NYSE:NAT)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 26.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,213 shares of the shipping company’s stock after purchasing an additional 6,940 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Nordic American Tankers were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of 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 buying an additional 618,690 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Nordic American Tankers by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after acquiring an additional 621,588 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new stake in Nordic American Tankers during the 1st quarter valued at $2,443,000. Vanguard Group Inc. boosted its holdings in shares of Nordic American Tankers by 19.6% in the first 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 during the period. Finally, ProShare Advisors LLC grew its position in shares of Nordic American Tankers by 8.5% in the first quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 2,904 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Jefferies Financial Group reissued a “hold” rating and issued a $4.00 price target on shares of Nordic American Tankers in a report on Thursday, September 12th. Finally, Evercore ISI reduced their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th.

Nordic American Tankers Trading Down 3.4 %

Shares of Nordic American Tankers stock opened at $3.00 on Wednesday. The company has a 50 day simple moving average of $3.52 and a two-hundred day simple moving average of $3.76. The firm has a market cap of $625.34 million, a PE ratio of 10.33 and a beta of -0.21. Nordic American Tankers Limited has a 1 year low of $2.95 and a 1 year high of $4.65. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The business had revenue of $66.10 million for the quarter, compared to the consensus estimate of $54.34 million. During the same quarter last year, the business posted $0.13 earnings per share. Analysts expect that Nordic American Tankers Limited will post 0.32 earnings per share for the current fiscal year.

Nordic American Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 16.03%. The ex-dividend date is Thursday, September 26th. Nordic American Tankers’s payout ratio is currently 165.52%.

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.