Nordic American Tankers (NYSE:NAT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Nordic American Tankers (NYSE:NAT) from a sell rating to a hold rating in a research report released on Monday morning.

Other research analysts have also issued reports about the stock. Jefferies Financial Group reissued a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a report on Friday. Evercore ISI cut their target price on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th.

Nordic American Tankers Trading Down 1.3 %

Nordic American Tankers stock opened at $2.65 on Monday. The firm’s 50 day moving average price is $3.35 and its 200-day moving average price is $3.66. Nordic American Tankers has a 1 year low of $2.60 and a 1 year high of $4.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63. The stock has a market cap of $552.28 million, a P/E ratio of 9.12 and a beta of -0.21.

Nordic American Tankers Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 17th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 annualized dividend and a dividend yield of 18.15%. Nordic American Tankers’s payout ratio is currently 165.52%.

Institutional Trading of Nordic American Tankers

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Nordic American Tankers by 5.7% in 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 purchasing an additional 621,588 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Nordic American Tankers by 67.6% in the 3rd quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock valued at $13,851,000 after purchasing an additional 1,521,900 shares during the last quarter. American Century Companies Inc. raised its position in shares of Nordic American Tankers by 40.5% in the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after purchasing an additional 1,009,096 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Nordic American Tankers by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 275,707 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Nordic American Tankers by 122.8% in the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after buying an additional 711,973 shares during the period. 44.29% of the stock is owned by hedge funds and other institutional investors.

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.