Nordic American Tankers (NYSE:NAT) Sets New 12-Month High – Time to Buy?

Shares of Nordic American Tankers Limited (NYSE:NAT) hit a new 52-week high during trading on Friday . The stock traded as high as $3.93 and last traded at $3.9250, with a volume of 3097621 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NAT. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 28th. Wall Street Zen cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Evercore ISI upped their target price on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nordic American Tankers in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.25.

Nordic American Tankers Price Performance

The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $829.01 million, a P/E ratio of 195.85 and a beta of -0.43. The company has a fifty day simple moving average of $3.60 and a two-hundred day simple moving average of $3.25.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $40.18 million during the quarter, compared to the consensus estimate of $52.89 million. Nordic American Tankers had a net margin of 1.12% and a return on equity of 0.39%. Sell-side analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 13.3%. The ex-dividend date was Monday, December 8th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.10. Nordic American Tankers’s dividend payout ratio is presently 2,600.00%.

Institutional Investors Weigh In On Nordic American Tankers

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in Nordic American Tankers by 269.8% in the first quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock valued at $319,000 after buying an additional 94,514 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Nordic American Tankers by 298.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock valued at $168,000 after acquiring an additional 51,187 shares during the last quarter. Empowered Funds LLC raised its position in shares of Nordic American Tankers by 8.9% in the 1st quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock valued at $546,000 after acquiring an additional 18,222 shares during the period. Jane Street Group LLC boosted its stake in Nordic American Tankers by 22.6% during the 1st quarter. Jane Street Group LLC now owns 428,298 shares of the shipping company’s stock worth $1,054,000 after acquiring an additional 78,948 shares during the last quarter. Finally, Baron Wealth Management LLC acquired a new position in Nordic American Tankers during the second quarter valued at approximately $97,000. 44.29% of the stock is owned by institutional investors and hedge funds.

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.