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

CenterBook Partners LP lifted its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 110.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,700,409 shares of the shipping company’s stock after purchasing an additional 1,939,211 shares during the period. CenterBook Partners LP owned about 1.75% of Nordic American Tankers worth $12,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Nordic American Tankers during the fourth quarter worth about $34,000. BlueStem Wealth Partners LLC purchased a new position in shares of Nordic American Tankers during the third quarter worth about $32,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Nordic American Tankers during the third quarter worth about $32,000. Farther Finance Advisors LLC grew its holdings in shares of Nordic American Tankers by 99.3% during the fourth quarter. Farther Finance Advisors LLC now owns 11,294 shares of the shipping company’s stock worth $39,000 after buying an additional 5,626 shares during the last quarter. Finally, Argos Wealth Advisors LLC purchased a new position in shares of Nordic American Tankers during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NAT shares. Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target on the stock. in a report on Tuesday, April 21st. Wall Street Zen raised Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a report on Sunday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Nordic American Tankers presently has a consensus rating of “Reduce” and an average price target of $4.00.

Nordic American Tankers Price Performance

Shares of NAT opened at $5.39 on Monday. Nordic American Tankers Limited has a twelve month low of $2.60 and a twelve month high of $6.34. The stock’s 50 day moving average is $5.65 and its two-hundred day moving average is $4.75. The firm has a market capitalization of $1.14 billion, a PE ratio of 19.94 and a beta of -0.57. The company has a current ratio of 3.00, a quick ratio of 2.75 and a debt-to-equity ratio of 0.83.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%.The company had revenue of $77.51 million for the quarter, compared to analyst estimates of $81.86 million. Research analysts anticipate that Nordic American Tankers Limited will post 0.58 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.22 per share. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 16.3%. Nordic American Tankers’s dividend payout ratio is presently 251.85%.

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.