Nordic American Tankers (NAT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Nordic American Tankers (NYSE:NAT) from a sell rating to a hold rating in a report issued on Saturday morning.

According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “

A number of other research analysts also recently issued reports on NAT. Maxim Group reiterated a sell rating and set a $3.00 price objective (down from $4.00) on shares of Nordic American Tankers in a report on Monday, October 23rd. Morgan Stanley decreased their price objective on Nordic American Tankers from $6.50 to $5.00 and set an equal weight rating for the company in a report on Wednesday, November 8th. Finally, TheStreet downgraded Nordic American Tankers from a c- rating to a d+ rating in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. Nordic American Tankers has a consensus rating of Hold and a consensus target price of $5.67.

Shares of Nordic American Tankers (NAT) traded down $0.10 during trading on Friday, hitting $3.89. The company’s stock had a trading volume of 1,065,700 shares, compared to its average volume of 1,171,881. Nordic American Tankers has a 12 month low of $3.89 and a 12 month high of $9.95. The company has a quick ratio of 3.87, a current ratio of 4.69 and a debt-to-equity ratio of 0.52.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Monday, November 13th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.12 dividend on an annualized basis and a yield of 3.08%.

A number of hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its stake in Nordic American Tankers by 40.4% in the second quarter. Northern Trust Corp now owns 2,292,777 shares of the shipping company’s stock valued at $14,536,000 after purchasing an additional 659,827 shares in the last quarter. State Street Corp grew its stake in Nordic American Tankers by 6.9% in the second quarter. State Street Corp now owns 1,778,065 shares of the shipping company’s stock valued at $11,272,000 after purchasing an additional 114,052 shares in the last quarter. Global X Management Co. LLC grew its stake in Nordic American Tankers by 4.7% in the second quarter. Global X Management Co. LLC now owns 1,098,976 shares of the shipping company’s stock valued at $6,968,000 after purchasing an additional 49,761 shares in the last quarter. WealthTrust Axiom LLC grew its stake in Nordic American Tankers by 7.2% in the second quarter. WealthTrust Axiom LLC now owns 662,196 shares of the shipping company’s stock valued at $4,198,000 after purchasing an additional 44,443 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Nordic American Tankers by 17.0% in the third quarter. Wells Fargo & Company MN now owns 569,292 shares of the shipping company’s stock valued at $3,040,000 after buying an additional 82,687 shares during the last quarter. Hedge funds and other institutional investors own 23.68% of the company’s stock.

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Nordic American Tankers Company Profile

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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Analyst Recommendations for Nordic American Tankers (NYSE:NAT)

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