Philip James Wealth Mangement LLC Purchases New Holdings in Nordic American Tankers Limited (NYSE:NAT)

Philip James Wealth Mangement LLC bought a new position in Nordic American Tankers Limited (NYSE:NAT - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,108,591 shares of the shipping company's stock, valued at approximately $4,069,000. Philip James Wealth Mangement LLC owned about 0.53% of Nordic American Tankers as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Nordic American Tankers in the 2nd quarter worth about $25,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Nordic American Tankers in the first quarter valued at approximately $45,000. Bluefin Capital Management LLC acquired a new position in shares of Nordic American Tankers during the second quarter worth approximately $47,000. SG Americas Securities LLC acquired a new position in shares of Nordic American Tankers during the first quarter worth approximately $47,000. Finally, Caprock Group LLC bought a new position in Nordic American Tankers in the 2nd quarter worth approximately $55,000. 44.29% of the stock is owned by institutional investors.

Nordic American Tankers Price Performance

NYSE NAT traded down $0.12 on Friday, reaching $3.16. The company's stock had a trading volume of 2,914,986 shares, compared to its average volume of 2,509,458. Nordic American Tankers Limited has a twelve month low of $3.06 and a twelve month high of $4.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. The firm's 50 day moving average is $3.56 and its two-hundred day moving average is $3.77. The stock has a market cap of $658.75 million, a PE ratio of 10.90 and a beta of -0.21.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. The firm had revenue of $66.10 million during the quarter, compared to analysts' expectations of $54.34 million. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. During the same period last year, the firm posted $0.13 earnings per share. As a group, sell-side analysts predict that Nordic American Tankers Limited will post 0.32 EPS for the current year.

Nordic American Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 15.21%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers's payout ratio is 165.52%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NAT. Jefferies Financial Group reiterated a "hold" rating and issued a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th. Evercore ISI lowered their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an "in-line" rating on the stock in a research note on Friday, August 30th. Finally, StockNews.com raised Nordic American Tankers from a "sell" rating to a "hold" rating in a report on Wednesday.

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.