Avantax Advisory Services Inc. Takes Position in Nordic American Tankers Limited (NYSE:NAT)

Avantax Advisory Services Inc. acquired a new position in Nordic American Tankers Limited (NYSE:NAT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,251 shares of the shipping company’s stock, valued at approximately $33,000.

A number of other institutional investors have also recently bought and sold shares of 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. Victory Capital Management Inc. lifted its holdings in shares of Nordic American Tankers by 834.7% during 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 stake in shares of Nordic American Tankers in the 4th quarter valued at approximately $509,000. Philip James Wealth Mangement LLC increased its holdings in Nordic American Tankers by 8.8% in 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. Finally, Rhumbline Advisers raised its position in Nordic American Tankers by 1.1% during the fourth quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock valued at $1,209,000 after acquiring an additional 5,439 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Nordic American Tankers Stock Down 1.0 %

Shares of NAT stock opened at $2.54 on Friday. The stock’s 50 day simple moving average is $2.62 and its 200 day simple moving average is $2.95. Nordic American Tankers Limited has a twelve month low of $2.39 and a twelve month high of $4.40. 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 company has a market capitalization of $529.30 million, a price-to-earnings ratio of 8.74 and a beta of -0.33.

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

Nordic American Tankers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 9.47%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is 109.09%.

Analysts Set New Price Targets

Several analysts have commented on NAT shares. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Friday, February 28th. StockNews.com lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Monday.

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.