Nordic American Tankers (NYSE:NAT) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Nordic American Tankers (NYSE:NAT) from a sell rating to a hold rating in a report published on Monday morning.

Other research analysts have also recently issued research reports about the stock. Evercore ISI cut their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a report on Friday, November 29th.

Nordic American Tankers Stock Down 0.4 %

Shares of NAT opened at $2.77 on Monday. The stock has a market cap of $578.36 million, a price-to-earnings ratio of 9.59 and a beta of -0.26. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. Nordic American Tankers has a 12 month low of $2.60 and a 12 month high of $4.64. The company has a 50-day moving average price of $3.31 and a two-hundred day moving average price of $3.63.

Nordic American Tankers Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 17th will be issued a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 17.33%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio is currently 55.17%.

Institutional Trading of Nordic American Tankers

A number of institutional investors have recently bought and sold shares of NAT. Headlands Technologies LLC bought a new position in shares of Nordic American Tankers during the second quarter worth $25,000. Raymond James Trust N.A. bought a new position in shares of Nordic American Tankers during the third quarter worth $37,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Nordic American Tankers during the first quarter worth $45,000. Bluefin Capital Management LLC bought a new position in shares of Nordic American Tankers during the second quarter worth $47,000. Finally, Caprock Group LLC bought a new position in shares of Nordic American Tankers during the second quarter worth $55,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

About Nordic American Tankers

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.