StockNews.com lowered shares of Nordic American Tankers (NYSE:NAT – Free Report) from a hold rating to a sell rating in a research report released on Tuesday morning.
Separately, Jefferies Financial Group decreased their price target on Nordic American Tankers from $5.50 to $5.00 and set a buy rating for the company in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $5.17.
Check Out Our Latest Report on Nordic American Tankers
Nordic American Tankers Stock Up 1.8 %
Nordic American Tankers (NYSE:NAT – Get Free Report) last posted its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). The company had revenue of $60.57 million during the quarter, compared to the consensus estimate of $66.19 million. Nordic American Tankers had a net margin of 28.37% and a return on equity of 12.43%. Equities research analysts expect that Nordic American Tankers will post 0.41 earnings per share for the current fiscal year.
Nordic American Tankers Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Friday, June 28th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.96%. Nordic American Tankers’s payout ratio is currently 150.00%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Magnolia Capital Advisors LLC purchased a new position in Nordic American Tankers during the second quarter valued at approximately $176,000. Millennium Management LLC boosted 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 buying an additional 711,973 shares during the period. AQR Capital Management LLC grew its holdings in shares of Nordic American Tankers by 180.9% during the 2nd quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company’s stock valued at $1,674,000 after acquiring an additional 270,946 shares in the last quarter. Sei Investments Co. increased its stake in shares of Nordic American Tankers by 9.1% in the second quarter. Sei Investments Co. now owns 91,791 shares of the shipping company’s stock worth $365,000 after acquiring an additional 7,663 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Nordic American Tankers during the second quarter worth $260,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.
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.
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