Nordic American Tankers (NYSE:NAT) Shares Up 4.2% - Time to Buy?

Nordic American Tankers Limited (NYSE:NAT - Get Free Report)'s share price traded up 4.2% during trading on Monday . The company traded as high as $3.02 and last traded at $3.01. 973,261 shares changed hands during trading, a decline of 66% from the average session volume of 2,897,297 shares. The stock had previously closed at $2.89.

Wall Street Analysts Forecast Growth

NAT has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.50 target price on shares of Nordic American Tankers in a report on Friday, November 29th. StockNews.com upgraded shares of Nordic American Tankers from a "sell" rating to a "hold" rating in a report on Monday, December 2nd.

Nordic American Tankers Stock Up 3.8 %

The firm has a 50-day moving average price of $2.76 and a two-hundred day moving average price of $3.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The firm has a market cap of $626.39 million, a price-to-earnings ratio of 10.34 and a beta of -0.29.

Nordic American Tankers Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 17th will be given a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 16.00%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers's dividend payout ratio (DPR) is 55.17%.

Hedge Funds Weigh In On Nordic American Tankers

Large investors have recently bought and sold shares of the stock. Philip James Wealth Mangement LLC acquired a new stake in Nordic American Tankers during the 3rd quarter worth $4,069,000. Barclays PLC grew its holdings in shares of Nordic American Tankers by 274.8% during the third quarter. Barclays PLC now owns 268,115 shares of the shipping company's stock worth $984,000 after buying an additional 196,571 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company's stock valued at $46,195,000 after acquiring an additional 621,588 shares during the period. AQR Capital Management LLC raised its stake in Nordic American Tankers by 180.9% during the 2nd quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company's stock valued at $1,674,000 after acquiring an additional 270,946 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Nordic American Tankers by 40.5% during the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company's stock valued at $13,928,000 after acquiring an additional 1,009,096 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company's stock.

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.