Research analysts at Wells Fargo & Co. initiated coverage on shares of Nordic American Tankers Ltd. (NYSE:NAT) in a research note issued on Wednesday. The firm set a “market perform” rating on the stock.

Other research analysts also recently issued research reports about the company. Jefferies Group set a $8.00 target price on Nordic American Tankers and gave the stock an “underperform” rating in a research note on Wednesday, July 27th. Zacks Investment Research downgraded Nordic American Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. Clarkson Capital downgraded Nordic American Tankers from a “buy” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $10.00 in a research note on Monday, October 3rd. Morgan Stanley restated 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 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 target price for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $11.69.

Analyst Recommendations for Nordic American Tankers (NYSE:NAT)

Shares of Nordic American Tankers (NYSE:NAT) opened at 9.05 on Wednesday. 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 $9.13 and its 200 day moving average price is $12.02. The company has a market capitalization of $922.82 million, a PE ratio of 12.47 and a beta of 1.29.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. Nordic American Tankers had a return on equity of 7.34% and a net margin of 24.79%. During the same quarter in the prior year, the business posted $0.29 earnings per share. On average, equities research analysts forecast that Nordic American Tankers will post $0.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, October 25th. This represents a $1.04 annualized dividend and a dividend yield of 11.49%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.25. Nordic American Tankers’s dividend payout ratio (DPR) is presently 140.54%.

Several institutional investors have recently made changes to their positions in NAT. MSI Financial Services Inc boosted its position in shares of Nordic American Tankers by 1.3% in the third quarter. MSI Financial Services Inc now owns 10,530 shares of the company’s stock worth $106,000 after buying an additional 134 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in shares of 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. Principal Financial Group Inc. boosted its position in shares of Nordic American Tankers by 1.8% in the third quarter. Principal Financial Group Inc. now owns 11,814 shares of the company’s stock worth $119,000 after buying an additional 211 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Nordic American Tankers by 0.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 207,086 shares of the company’s stock worth $2,877,000 after buying an additional 564 shares in the last quarter. Finally, Cetera Advisor Networks LLC boosted its position in shares of Nordic American Tankers by 5.8% in the third quarter. Cetera Advisor Networks LLC now owns 10,900 shares of the company’s stock worth $110,000 after buying an additional 600 shares in the last quarter. 27.68% of the stock is currently owned by institutional investors.

Nordic American Tankers Company Profile

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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