JPMorgan Chase & Co. Sells 238,177 Shares of Nordic American Tankers Limited (NYSE:NAT)

JPMorgan Chase & Co. reduced its holdings in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 37.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 391,096 shares of the shipping company's stock after selling 238,177 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.19% of Nordic American Tankers worth $978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC boosted its position in Nordic American Tankers by 274.8% during the third quarter. Barclays PLC now owns 268,115 shares of the shipping company's stock valued at $984,000 after purchasing an additional 196,571 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Nordic American Tankers by 33.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 438,641 shares of the shipping company's stock worth $1,097,000 after purchasing an additional 109,093 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Nordic American Tankers by 834.7% in the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company's stock valued at $1,363,000 after buying an additional 486,710 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Nordic American Tankers in the fourth quarter valued at $509,000. Finally, Philip James Wealth Mangement LLC increased its holdings in Nordic American Tankers by 8.8% during the fourth quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company's stock worth $3,016,000 after buying an additional 97,819 shares during the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Stock Up 1.2 %

NAT stock opened at $2.56 on Monday. The business's 50 day simple moving average is $2.49 and its 200 day simple moving average is $2.74. Nordic American Tankers Limited has a 1-year low of $2.13 and a 1-year high of $4.40. The firm has a market capitalization of $534.53 million, a PE ratio of 8.83 and a beta of 0.02. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $46.39 million during the quarter, compared to analyst estimates 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, research analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 annualized dividend and a yield of 9.38%. Nordic American Tankers's dividend payout ratio (DPR) is presently 109.09%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com cut shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Wednesday, April 9th. Jefferies Financial Group reiterated a "hold" rating and issued a $3.00 target price on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers 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.

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