Schwab Charles Investment Management Inc. boosted its stake in Nordic American Tanker Ltd (NYSE:NAT) by 25.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 545,650 shares of the shipping company’s stock after purchasing an additional 110,365 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.54% of Nordic American Tanker worth $2,914,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Nordic American Tanker by 37.9% during the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after purchasing an additional 4,454 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nordic American Tanker in the third quarter worth $158,000. Voya Investment Management LLC increased its stake in shares of Nordic American Tanker by 14.0% in the second quarter. Voya Investment Management LLC now owns 46,032 shares of the shipping company’s stock worth $292,000 after buying an additional 5,659 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Nordic American Tanker by 73.2% during the third quarter. Canada Pension Plan Investment Board now owns 80,367 shares of the shipping company’s stock valued at $429,000 after purchasing an additional 33,967 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Nordic American Tanker during the second quarter valued at $479,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.
Several research firms have recently commented on NAT. Zacks Investment Research lowered shares of Nordic American Tanker from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 10th. Clarkson Capital raised shares of Nordic American Tanker from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Maxim Group reaffirmed a “sell” rating on shares of Nordic American Tanker in a report on Monday, November 6th. Jefferies Group raised shares of Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 price target for the company in a report on Thursday, December 14th. Finally, Morgan Stanley cut their price target on shares of Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $4.17.
Shares of Nordic American Tanker Ltd (NYSE:NAT) opened at $2.64 on Tuesday. Nordic American Tanker Ltd has a 52 week low of $2.45 and a 52 week high of $8.97. The company has a quick ratio of 2.71, a current ratio of 3.52 and a debt-to-equity ratio of 0.58.
Nordic American Tanker (NYSE:NAT) last issued its earnings results on Friday, November 3rd. The shipping company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). Nordic American Tanker had a negative net margin of 32.51% and a negative return on equity of 6.49%. The business had revenue of $23.67 million during the quarter, compared to analyst estimates of $28.74 million. analysts forecast that Nordic American Tanker Ltd will post -0.63 earnings per share for the current fiscal year.
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Nordic American Tanker 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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