480,769 Shares in Nordic American Tankers Limited (NYSE:NAT) Purchased by Norges Bank

Norges Bank purchased a new stake in Nordic American Tankers Limited (NYSE:NAT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 480,769 shares of the shipping company's stock, valued at approximately $1,202,000. Norges Bank owned 0.23% of Nordic American Tankers 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 NAT. AXQ Capital LP bought a new position in shares of Nordic American Tankers during the 4th quarter worth approximately $43,000. Virtu Financial LLC acquired a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $312,000. Quantbot Technologies LP lifted its holdings in shares of Nordic American Tankers by 57.1% during the fourth quarter. Quantbot Technologies LP now owns 325,260 shares of the shipping company's stock worth $813,000 after buying an additional 118,252 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in Nordic American Tankers during the fourth quarter worth approximately $75,000. Finally, Xponance Inc. grew its stake in Nordic American Tankers by 41.4% during the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company's stock worth $46,000 after buying an additional 5,439 shares in the last quarter. 44.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NAT has been the topic of several recent research reports. StockNews.com downgraded Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Wednesday, April 9th. Jefferies Financial Group reaffirmed a "hold" rating and set a $3.00 price target on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Stock Performance

NYSE NAT traded up $0.08 during trading on Thursday, hitting $2.52. 601,690 shares of the company's stock traded hands, compared to its average volume of 2,534,355. The stock has a market capitalization of $525.13 million, a price-to-earnings ratio of 8.64 and a beta of 0.02. 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 business has a 50 day moving average of $2.52 and a 200-day moving average of $2.81. Nordic American Tankers Limited has a 12-month low of $2.13 and a 12-month 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 analysts' consensus estimates of $0.03 by ($0.02). The business had revenue of $46.39 million during the quarter, compared to the consensus estimate of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. As a group, equities research analysts anticipate that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 9.54%. Nordic American Tankers's dividend payout ratio is presently 109.09%.

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.