Commonwealth Equity Services LLC Buys 109,093 Shares of Nordic American Tankers Limited (NYSE:NAT)

Commonwealth Equity Services LLC raised its position in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 33.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 438,641 shares of the shipping company's stock after purchasing an additional 109,093 shares during the quarter. Commonwealth Equity Services LLC owned 0.21% of Nordic American Tankers worth $1,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in Nordic American Tankers in the 3rd quarter worth approximately $237,000. Charles Schwab Investment Management Inc. increased its holdings in Nordic American Tankers by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company's stock valued at $1,796,000 after acquiring an additional 7,382 shares during the last quarter. Quantbot Technologies LP lifted its stake in Nordic American Tankers by 198.9% in the 3rd quarter. Quantbot Technologies LP now owns 207,008 shares of the shipping company's stock worth $760,000 after purchasing an additional 137,745 shares in the last quarter. Penn Mutual Asset Management increased its holdings in shares of Nordic American Tankers by 25.2% in the third quarter. Penn Mutual Asset Management now owns 134,000 shares of the shipping company's stock worth $492,000 after purchasing an additional 27,000 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company's stock worth $13,851,000 after buying an additional 1,521,900 shares in the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Nordic American Tankers Trading Down 6.0 %

Shares of NYSE:NAT traded down $0.14 during trading on Friday, hitting $2.21. The company had a trading volume of 4,203,823 shares, compared to its average volume of 2,526,978. The stock has a market cap of $461.44 million, a price-to-earnings ratio of 7.62 and a beta of -0.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The company has a fifty day simple moving average of $2.58 and a two-hundred day simple moving average of $2.89. Nordic American Tankers Limited has a one year low of $2.15 and a one year high of $4.40.

Nordic American Tankers (NYSE:NAT - Get Free Report) last announced its earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $46.39 million during the quarter, compared to analysts' expectations of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. As a group, equities analysts forecast that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 10.86%. The ex-dividend date was Monday, March 10th. Nordic American Tankers's dividend payout ratio (DPR) is presently 109.09%.

Analysts Set New Price Targets

NAT has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.00 price objective on shares of Nordic American Tankers in a research note on Friday, February 28th. StockNews.com raised shares of Nordic American Tankers from a "sell" rating to a "hold" rating in a report on Tuesday.

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.