Avantax Advisory Services Inc. Acquires New Position in Nordic American Tankers Limited (NYSE:NAT)

Avantax Advisory Services Inc. purchased a new position in Nordic American Tankers Limited (NYSE:NAT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 13,251 shares of the shipping company’s stock, valued at approximately $33,000.

Several other large investors have also recently added to or reduced their stakes in NAT. Sequoia Financial Advisors LLC acquired a new stake in Nordic American Tankers in the fourth quarter worth about $26,000. Raymond James Trust N.A. bought a new stake in shares of Nordic American Tankers during the 3rd quarter worth about $37,000. Flputnam Investment Management Co. acquired a new stake in shares of Nordic American Tankers in the 4th quarter worth approximately $45,000. Ballentine Partners LLC boosted its holdings in shares of Nordic American Tankers by 90.7% in the fourth quarter. Ballentine Partners LLC now owns 24,737 shares of the shipping company’s stock valued at $62,000 after acquiring an additional 11,767 shares in the last quarter. Finally, Realta Investment Advisors acquired a new position in shares of Nordic American Tankers during the fourth quarter valued at approximately $67,000. 44.29% of the stock is owned by institutional investors and hedge funds.

Nordic American Tankers Stock Down 1.0 %

NAT stock opened at $2.54 on Friday. The firm has a market cap of $529.30 million, a PE ratio of 8.74 and a beta of -0.33. Nordic American Tankers Limited has a 12 month low of $2.39 and a 12 month high of $4.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The firm has a 50 day simple moving average of $2.62 and a 200 day simple moving average of $2.95.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $46.39 million for the quarter, compared to analyst estimates of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. Equities research analysts forecast that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 annualized dividend and a yield of 9.47%. Nordic American Tankers’s payout ratio is presently 109.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Monday. Jefferies Financial Group restated a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a report on Friday, February 28th.

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.