Geode Capital Management LLC Lowers Holdings in Nordic American Tankers Limited (NYSE:NAT)

Geode Capital Management LLC lowered its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 0.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,470,401 shares of the shipping company’s stock after selling 9,469 shares during the period. Geode Capital Management LLC owned about 1.18% of Nordic American Tankers worth $9,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Nordic American Tankers during the second quarter worth about $25,000. Raymond James Trust N.A. acquired a new stake in shares of Nordic American Tankers during the 3rd quarter worth approximately $37,000. Bluefin Capital Management LLC purchased a new position in shares of Nordic American Tankers during the 2nd quarter valued at approximately $47,000. Caprock Group LLC purchased a new position in shares of Nordic American Tankers during the 2nd quarter valued at approximately $55,000. Finally, Ballentine Partners LLC acquired a new position in shares of Nordic American Tankers in the 2nd quarter valued at $63,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Jefferies Financial Group restated a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 29th. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd.

Nordic American Tankers Trading Up 2.0 %

Shares of NYSE:NAT opened at $2.50 on Thursday. The firm has a market capitalization of $521.99 million, a price-to-earnings ratio of 8.62 and a beta of -0.26. The business’s 50 day moving average price is $2.86 and its 200-day moving average price is $3.41. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. Nordic American Tankers Limited has a 1 year low of $2.41 and a 1 year high of $4.64.

Nordic American Tankers Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Stockholders 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 annualized dividend and a dividend yield of 19.20%. Nordic American Tankers’s dividend payout ratio (DPR) is 55.17%.

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.