JPMorgan Chase & Co. Reduces Stock Position in Nordic American Tankers Limited (NYSE:NAT)

JPMorgan Chase & Co. lowered its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 60.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 629,273 shares of the shipping company’s stock after selling 946,604 shares during the period. JPMorgan Chase & Co. owned 0.30% of Nordic American Tankers worth $2,309,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. increased its holdings in shares of Nordic American Tankers by 178.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 44,694 shares of the shipping company’s stock worth $171,000 after purchasing an additional 28,670 shares during the period. Franklin Resources Inc. increased its holdings in shares of Nordic American Tankers by 99.8% in the third quarter. Franklin Resources Inc. now owns 25,333 shares of the shipping company’s stock worth $92,000 after purchasing an additional 12,651 shares during the period. Barclays PLC increased its holdings in shares of Nordic American Tankers by 274.8% in the third quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock worth $984,000 after purchasing an additional 196,571 shares during the period. MML Investors Services LLC increased its holdings in shares of Nordic American Tankers by 46.0% in the third quarter. MML Investors Services LLC now owns 86,357 shares of the shipping company’s stock worth $317,000 after purchasing an additional 27,210 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after purchasing an additional 1,521,900 shares during the period. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NAT shares. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 29th.

Nordic American Tankers Stock Down 2.7 %

NAT opened at $2.67 on Wednesday. The stock has a market cap of $556.66 million, a PE ratio of 9.19 and a beta of -0.29. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. Nordic American Tankers Limited has a 52 week low of $2.41 and a 52 week high of $4.55. The business’s fifty day simple moving average is $2.73 and its 200 day simple moving average is $3.28.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Friday, November 29th. The shipping company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. As a group, research analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 18.00%. Nordic American Tankers’s dividend payout ratio (DPR) 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.