Cetera Investment Advisers Buys 89,450 Shares of Nordic American Tankers Limited (NYSE:NAT)

Cetera Investment Advisers boosted its stake in Nordic American Tankers Limited (NYSE:NAT) by 48.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 272,596 shares of the shipping company’s stock after acquiring an additional 89,450 shares during the period. Cetera Investment Advisers owned 0.13% of Nordic American Tankers worth $1,085,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NAT. Dimensional Fund Advisors LP raised its position in Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after buying an additional 621,588 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Nordic American Tankers by 3.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,526,137 shares of the shipping company’s stock valued at $31,610,000 after purchasing an additional 221,478 shares during the period. American Century Companies Inc. grew its stake in shares of Nordic American Tankers by 40.5% during the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after purchasing an additional 1,009,096 shares during the period. Vanguard Group Inc. grew its stake in shares of Nordic American Tankers by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 275,707 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Nordic American Tankers by 122.8% during the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after purchasing an additional 711,973 shares during the period. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $4.00 price objective on shares of Nordic American Tankers in a research note on Thursday, September 12th. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI decreased their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a report on Friday, August 30th.

Nordic American Tankers Stock Performance

NYSE:NAT opened at $3.57 on Friday. The stock’s fifty day moving average is $3.65 and its 200 day moving average is $3.83. The firm has a market capitalization of $745.40 million, a PE ratio of 11.16 and a beta of -0.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. Nordic American Tankers Limited has a fifty-two week low of $3.31 and a fifty-two week high of $4.83.

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

Nordic American Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Thursday, September 26th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 13.45%. The ex-dividend date is Thursday, September 26th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 150.00%.

About Nordic American Tankers

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.