1,108,591 Shares in Nordic American Tankers Limited (NYSE:NAT) Bought by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC purchased a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,108,591 shares of the shipping company’s stock, valued at approximately $4,069,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. ProShare Advisors LLC increased its stake in shares of Nordic American Tankers by 8.5% in the first quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock worth $145,000 after purchasing an additional 2,904 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Nordic American Tankers by 6.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 46,596 shares of the shipping company’s stock worth $185,000 after buying an additional 3,003 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Nordic American Tankers by 50.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 16,024 shares of the shipping company’s stock valued at $66,000 after acquiring an additional 5,347 shares during the period. Headlands Technologies LLC purchased a new position in shares of Nordic American Tankers in the second quarter valued at about $25,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nordic American Tankers by 26.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock worth $122,000 after acquiring an additional 6,940 shares during the period. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI cut their price objective on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $4.00 price target on shares of Nordic American Tankers in a research report on Thursday, September 12th.

Nordic American Tankers Trading Down 1.8 %

NAT stock traded down $0.06 during midday trading on Friday, reaching $3.21. 164,453 shares of the company traded hands, compared to its average volume of 2,496,641. The firm has a market capitalization of $670.25 million, a price-to-earnings ratio of 11.26 and a beta of -0.21. Nordic American Tankers Limited has a 52-week low of $3.06 and a 52-week high of $4.65. The business has a 50 day moving average of $3.56 and a 200-day moving average of $3.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The company had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same period last year, the company earned $0.13 earnings per share. As a group, sell-side analysts expect that Nordic American Tankers Limited will post 0.32 earnings per share for the current fiscal year.

Nordic American Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.48 annualized dividend and a yield of 14.95%. Nordic American Tankers’s payout ratio is 165.52%.

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.