Nordic American Tankers Ltd. (NYSE:NAT) posted its quarterly earnings results on Thursday. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.08. Nordic American Tankers had a return on equity of 7.49% and a net margin of 24.79%. During the same period in the prior year, the business earned $0.29 earnings per share.

Shares of Nordic American Tankers (NYSE:NAT) opened at 8.94 on Monday. Nordic American Tankers has a 12-month low of $7.57 and a 12-month high of $16.18. The stock’s 50 day moving average price is $9.25 and its 200-day moving average price is $12.17. The company has a market cap of $798.51 million, a PE ratio of 8.13 and a beta of 1.29.

Earnings History for Nordic American Tankers (NYSE:NAT)

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 11.63%. The ex-dividend date of this dividend was Tuesday, October 25th. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.25. Nordic American Tankers’s payout ratio is 140.54%.

A number of research firms recently commented on NAT. Zacks Investment Research downgraded Nordic American Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. Jefferies Group set a $8.00 price target on Nordic American Tankers and gave the stock an “underperform” rating in a research note on Wednesday, July 27th. Clarkson Capital downgraded Nordic American Tankers from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $10.00 in a research note on Monday, October 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $9.00 price target (down from $12.00) on shares of Nordic American Tankers in a research note on Friday, August 26th. Finally, Vetr upgraded Nordic American Tankers from a “buy” rating to a “strong-buy” rating and set a $10.11 price target for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $11.69.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC raised its position in Nordic American Tankers by 3.9% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 22,697 shares of the company’s stock worth $315,000 after buying an additional 862 shares in the last quarter. Capital Fund Management S.A. raised its position in Nordic American Tankers by 56.8% in the second quarter. Capital Fund Management S.A. now owns 88,282 shares of the company’s stock worth $1,226,000 after buying an additional 31,990 shares in the last quarter. BlackRock Inc. raised its position in Nordic American Tankers by 62.9% in the first quarter. BlackRock Inc. now owns 45,815 shares of the company’s stock worth $645,000 after buying an additional 17,697 shares in the last quarter. Doheny Asset Management CA raised its position in Nordic American Tankers by 47.3% in the second quarter. Doheny Asset Management CA now owns 331,150 shares of the company’s stock worth $4,600,000 after buying an additional 106,300 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its position in Nordic American Tankers by 1.3% in the second quarter. HighPoint Advisor Group LLC now owns 16,100 shares of the company’s stock worth $198,000 after buying an additional 200 shares in the last quarter. 28.86% of the stock is owned by hedge funds and other institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

5 Day Chart for NYSE:NAT

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