Cibc World Markets Corp Takes $48,000 Position in Nordic American Tankers Limited (NYSE:NAT)

Cibc World Markets Corp purchased a new position in Nordic American Tankers Limited (NYSE:NAT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,077 shares of the shipping company’s stock, valued at approximately $48,000.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Nordic American Tankers by 274.8% in 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 in the last quarter. Victory Capital Management Inc. raised its holdings in 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 worth $1,363,000 after acquiring an additional 486,710 shares during the last quarter. Empowered Funds LLC bought a new position in Nordic American Tankers in the 4th quarter valued at approximately $509,000. Philip James Wealth Mangement LLC boosted its stake in Nordic American Tankers by 8.8% during the 4th quarter. Philip James Wealth Mangement LLC now owns 1,206,410 shares of the shipping company’s stock valued at $3,016,000 after purchasing an additional 97,819 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Nordic American Tankers by 1.1% in the 4th quarter. Rhumbline Advisers now owns 483,457 shares of the shipping company’s stock worth $1,209,000 after purchasing an additional 5,439 shares in the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NAT has been the topic of a number of research analyst reports. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Monday. Jefferies Financial Group restated a “hold” rating and set a $3.00 target price on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Trading Down 1.0 %

NYSE:NAT opened at $2.54 on Friday. The company has a market cap of $529.30 million, a PE ratio of 8.74 and a beta of -0.33. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The company has a 50 day simple moving average of $2.62 and a two-hundred day simple moving average of $2.95. Nordic American Tankers Limited has a 12 month low of $2.39 and a 12 month high of $4.40.

Nordic American Tankers (NYSE:NAT) last issued 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 firm 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%. Research 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. Investors of record on Monday, March 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 9.47%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s payout ratio is 109.09%.

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.