Verition Fund Management LLC Sells 56,175 Shares of Nordic American Tankers Limited (NYSE:NAT)

Verition Fund Management LLC cut its holdings in Nordic American Tankers Limited (NYSE:NAT) by 71.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,485 shares of the shipping company’s stock after selling 56,175 shares during the period. Verition Fund Management LLC’s holdings in Nordic American Tankers were worth $83,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Nordic American Tankers by 50.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after purchasing an additional 5,347 shares during the period. Headlands Technologies LLC bought a new position in Nordic American Tankers in the 2nd quarter worth $25,000. Wealth Enhancement Advisory Services LLC raised its holdings in Nordic American Tankers by 26.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock worth $122,000 after acquiring an additional 6,940 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Nordic American Tankers by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock valued at $1,796,000 after acquiring an additional 7,382 shares during the period. Finally, Sei Investments Co. boosted its holdings in Nordic American Tankers by 9.1% during the second quarter. Sei Investments Co. now owns 91,791 shares of the shipping company’s stock valued at $365,000 after acquiring an additional 7,663 shares during the period. 44.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 29th. Evercore ISI dropped their price target on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th. Finally, StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd.

Nordic American Tankers Price Performance

Shares of NAT opened at $2.53 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The company has a 50-day simple moving average of $3.09 and a 200-day simple moving average of $3.52. Nordic American Tankers Limited has a 52 week low of $2.47 and a 52 week high of $4.64. The firm has a market capitalization of $527.21 million, a P/E ratio of 8.71 and a beta of -0.26.

Nordic American Tankers Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 19.01%. Nordic American Tankers’s dividend payout ratio is currently 55.17%.

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.