Nordic American Tankers Ltd. (NYSE:NAT)’s share price rose 7.6% on Monday after the company announced a dividend. The company traded as high as $9.70 and last traded at $9.67, with a volume of 2,291,029 shares trading hands. The stock had previously closed at $8.99.

The newly announced dividend which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, October 25th. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 10.60%. Nordic American Tankers’s dividend payout ratio is currently 90.09%.

NAT has been the subject of a number of research analyst reports. Jefferies Group restated a “sell” rating on shares of Nordic American Tankers in a research report on Monday, September 12th. Zacks Investment Research lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Clarkson Capital lowered shares of Nordic American Tankers from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $10.00 in a report on Monday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $9.00 target price (down previously from $12.00) on shares of Nordic American Tankers in a report on Friday, August 26th. Finally, Vetr lowered 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 report on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.63.

The stock has a 50-day moving average of $10.17 and a 200-day moving average of $12.88. The stock has a market capitalization of $876.22 million, a price-to-earnings ratio of 8.92 and a beta of 1.05.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Nordic American Tankers by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,314,203 shares of the company’s stock valued at $59,924,000 after buying an additional 149,318 shares during the last quarter. State Street Corp boosted its position in 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 boosted its position in 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. Bank of New York Mellon Corp boosted its position in Nordic American Tankers by 90.9% in the second quarter. Bank of New York Mellon Corp now owns 1,158,340 shares of the company’s stock valued at $16,090,000 after buying an additional 551,470 shares during the last quarter. Finally, UBS Group AG boosted its position in Nordic American Tankers by 17.5% in the first quarter. UBS Group AG now owns 759,057 shares of the company’s stock valued at $10,695,000 after buying an additional 112,961 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

Receive News & Stock Ratings for Nordic American Tankers Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers Ltd. and related stocks with our FREE daily email newsletter.