Nordic American Tankers (NYSE:NAT) Stock Price Up 5.1% – What’s Next?

Nordic American Tankers Limited (NYSE:NAT)’s stock price was up 5.1% on Tuesday . The company traded as high as $2.72 and last traded at $2.67. Approximately 1,221,032 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 2,200,452 shares. The stock had previously closed at $2.54.

Analyst Ratings Changes

Several research analysts recently weighed in on NAT shares. Jefferies Financial Group reissued a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research note on Friday, November 29th. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd.

Nordic American Tankers Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The company has a market cap of $570.01 million, a price-to-earnings ratio of 9.41 and a beta of -0.29. The stock has a 50-day moving average price of $2.79 and a 200 day moving average price of $3.36.

Nordic American Tankers Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Tuesday, December 17th will be issued a $0.04 dividend. This represents a $0.48 annualized dividend and a dividend yield of 17.58%. The ex-dividend date is Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 55.17%.

Institutional Investors Weigh In On Nordic American Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in NAT. Philip James Wealth Mangement LLC acquired a new position in Nordic American Tankers in the 3rd quarter worth $4,069,000. Barclays PLC grew its holdings in shares of Nordic American Tankers by 274.8% during the third quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock worth $984,000 after buying an additional 196,571 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nordic American Tankers by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock valued at $46,195,000 after acquiring an additional 621,588 shares during the last quarter. Prevail Innovative Wealth Advisors LLC raised its stake in shares of Nordic American Tankers by 24.8% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 777,711 shares of the shipping company’s stock worth $3,095,000 after purchasing an additional 154,558 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Nordic American Tankers by 180.9% in the 2nd quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company’s stock valued at $1,674,000 after buying an additional 270,946 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.