Nordic American Tankers Limited $NAT Shares Purchased by CenterBook Partners LP

CenterBook Partners LP boosted its stake in Nordic American Tankers Limited (NYSE:NAT) by 168.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,761,198 shares of the shipping company’s stock after buying an additional 1,104,929 shares during the quarter. CenterBook Partners LP owned approximately 0.83% of Nordic American Tankers worth $5,530,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Savant Capital LLC purchased a new stake in shares of Nordic American Tankers in the second quarter valued at $28,000. Vanguard Personalized Indexing Management LLC acquired a new position in Nordic American Tankers in the 3rd quarter valued at about $32,000. HBK Sorce Advisory LLC purchased a new position in Nordic American Tankers in the 3rd quarter valued at about $33,000. Caprock Group LLC acquired a new stake in shares of Nordic American Tankers during the 3rd quarter worth about $36,000. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of Nordic American Tankers during the third quarter worth about $37,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Up 1.5%

Shares of NYSE NAT opened at $4.61 on Wednesday. The stock has a market capitalization of $976.17 million, a PE ratio of 230.62 and a beta of -0.43. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average of $3.87 and a 200-day moving average of $3.53. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $4.65.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Friday, November 28th. The shipping company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $40.18 million for the quarter, compared to analyst estimates of $52.89 million. Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. On average, analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a $0.13 dividend. The ex-dividend date was Monday, December 8th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.10. This represents a $0.52 annualized dividend and a yield of 11.3%. Nordic American Tankers’s payout ratio is 2,600.00%.

Analyst Ratings Changes

Several brokerages recently issued reports on NAT. Weiss Ratings reissued a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Wall Street Zen raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Jefferies Financial Group restated a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a report on Friday, November 28th. Finally, Evercore upped their target price on Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research note on Tuesday, October 28th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Nordic American Tankers currently has an average rating of “Hold” and a consensus target price of $3.25.

About Nordic American Tankers

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.