Zacks Investment Research upgraded shares of Nordic American Tankers (NYSE:NAT) from a sell rating to a hold rating in a research report sent to investors on Saturday.
According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “
A number of other equities analysts have also recently issued reports on NAT. Maxim Group set a $4.00 target price on Nordic American Tankers and gave the stock a sell rating in a report on Monday, August 7th. TheStreet cut Nordic American Tankers from a c- rating to a d+ rating in a report on Thursday, August 10th. Finally, Morgan Stanley cut their target price on Nordic American Tankers from $6.50 to $5.00 and set an equal weight rating on the stock in a report on Wednesday, November 8th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $5.67.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Monday, November 13th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, November 10th. Nordic American Tankers’s dividend payout ratio (DPR) is presently -13.19%.
A number of large investors have recently modified their holdings of NAT. Principal Financial Group Inc. lifted its stake in Nordic American Tankers by 37.9% during the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after acquiring an additional 4,454 shares in the last quarter. Aperio Group LLC increased its position in shares of Nordic American Tankers by 55.2% during the 2nd quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock valued at $142,000 after purchasing an additional 7,994 shares during the last quarter. Sigma Planning Corp increased its position in shares of Nordic American Tankers by 44.2% during the 2nd quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock valued at $151,000 after purchasing an additional 7,318 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nordic American Tankers during the 3rd quarter valued at $158,000. Finally, Airain ltd increased its position in shares of Nordic American Tankers by 79.8% during the 2nd quarter. Airain ltd now owns 27,613 shares of the shipping company’s stock valued at $175,000 after purchasing an additional 12,256 shares during the last quarter. Institutional investors and hedge funds own 23.68% of the company’s stock.
About Nordic American Tankers
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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