Xponance Inc. Has $46,000 Position in Nordic American Tankers Limited (NYSE:NAT)

Xponance Inc. boosted its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 41.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,586 shares of the shipping company’s stock after buying an additional 5,439 shares during the quarter. Xponance Inc.’s holdings in Nordic American Tankers were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NAT. Sequoia Financial Advisors LLC acquired a new position in shares of Nordic American Tankers during the fourth quarter valued at $26,000. Avantax Advisory Services Inc. acquired a new stake in Nordic American Tankers in the fourth quarter worth about $33,000. Flputnam Investment Management Co. bought a new stake in Nordic American Tankers during the 4th quarter worth about $45,000. Cibc World Markets Corp acquired a new position in Nordic American Tankers during the 4th quarter valued at about $48,000. Finally, Ballentine Partners LLC boosted its stake in shares of Nordic American Tankers by 90.7% in the 4th quarter. Ballentine Partners LLC now owns 24,737 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 11,767 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Performance

Shares of NYSE:NAT opened at $2.52 on Friday. The company has a market capitalization of $525.12 million, a price-to-earnings ratio of 8.67 and a beta of -0.33. The firm’s 50 day simple moving average is $2.61 and its 200 day simple moving average is $2.93. 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 fifty-two week low of $2.39 and a fifty-two week high of $4.40.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The firm had revenue of $46.39 million during the quarter, compared to analyst estimates of $51.38 million. As a group, sell-side analysts forecast that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 9.54%. Nordic American Tankers’s payout ratio is 109.09%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NAT shares. StockNews.com cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Monday, March 24th. Jefferies Financial Group restated a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research 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.