Magnolia Capital Advisors LLC Buys New Position in Nordic American Tankers Limited (NYSE:NAT)

Magnolia Capital Advisors LLC bought a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,135 shares of the shipping company’s stock, valued at approximately $176,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in Nordic American Tankers during the 2nd quarter worth approximately $25,000. Diversify Advisory Services LLC acquired a new position in Nordic American Tankers during the 1st quarter worth approximately $41,000. B. Riley Wealth Advisors Inc. acquired a new position in Nordic American Tankers during the 1st quarter worth approximately $45,000. SG Americas Securities LLC acquired a new position in Nordic American Tankers during the 1st quarter worth approximately $47,000. Finally, Caprock Group LLC acquired a new position in Nordic American Tankers during the 2nd quarter worth approximately $55,000. Institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NAT shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $4.00 price target on shares of Nordic American Tankers in a research note on Thursday, September 12th. Evercore ISI lowered their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th. Finally, StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock opened at $3.68 on Tuesday. The company has a market cap of $767.33 million, a PE ratio of 11.48 and a beta of -0.19. Nordic American Tankers Limited has a 52 week low of $3.31 and a 52 week high of $4.83. The business has a 50 day moving average price of $3.63 and a 200-day moving average price of $3.86. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period in the prior year, the business posted $0.13 earnings per share. Equities analysts anticipate that Nordic American Tankers Limited will post 0.38 earnings per share for the current fiscal year.

Nordic American Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, September 26th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 13.06%. The ex-dividend date is Thursday, September 26th. Nordic American Tankers’s dividend payout ratio is presently 150.00%.

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.