Nordic American Tankers Ltd. (NYSE:nat) declared a quarterly dividend on Monday, October 17th. Stockholders of record on Thursday, October 27th will be paid a dividend of 0.26 per share on Thursday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 10.81%. The ex-dividend date is Tuesday, October 25th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.25.

Nordic American Tankers (NYSE:NAT) opened at 9.62 on Tuesday. Nordic American Tankers has a 12 month low of $8.94 and a 12 month high of $16.68. The stock’s 50 day moving average is $10.18 and its 200-day moving average is $12.91. The firm has a market cap of $859.25 million, a price-to-earnings ratio of 8.75 and a beta of 1.05.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Nordic American Tankers had a net margin of 34.79% and a return on equity of 11.28%. During the same quarter last year, the business earned $0.35 EPS. On average, analysts anticipate that Nordic American Tankers will post $0.64 earnings per share for the current fiscal year.

Dividend History for Nordic American Tankers (NYSE:nat)

A number of research analysts recently weighed in on NAT shares. Vetr downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating and set a $14.14 target price for the company. in a research report on Thursday, June 23rd. Zacks Investment Research downgraded shares of Nordic American Tankers from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. ABN Amro downgraded shares of Nordic American Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Jefferies Group set a $8.00 target price on shares of Nordic American Tankers and gave the company an “underperform” rating in a research report on Wednesday, July 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.00 target price (down previously from $12.00) on shares of Nordic American Tankers in a research report on Friday, August 26th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.63.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Nordic American Tankers by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,314,203 shares of the company’s stock worth $59,924,000 after buying an additional 149,318 shares during the period. State Street Corp increased its stake in shares of Nordic American Tankers by 4.6% in the second quarter. State Street Corp now owns 1,435,967 shares of the company’s stock valued at $19,947,000 after buying an additional 62,919 shares during the last quarter. Allianz Asset Management AG increased its stake in shares of Nordic American Tankers by 26.0% in the second quarter. Allianz Asset Management AG now owns 1,224,015 shares of the company’s stock valued at $17,002,000 after buying an additional 252,467 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Nordic American Tankers during the second quarter valued at approximately $8,887,000. Finally, Cipher Capital LP increased its stake in shares of Nordic American Tankers by 126.5% in the second quarter. Cipher Capital LP now owns 380,390 shares of the company’s stock valued at $5,284,000 after buying an additional 212,444 shares during the last quarter. 28.84% of the stock is owned by institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.

5 Day Chart for NYSE:NAT

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