ExodusPoint Capital Management LP Buys 287,022 Shares of Nordic American Tankers Limited (NYSE:NAT)

ExodusPoint Capital Management LP raised its stake in Nordic American Tankers Limited (NYSE:NAT) by 118.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 528,829 shares of the shipping company’s stock after acquiring an additional 287,022 shares during the quarter. ExodusPoint Capital Management LP owned about 0.25% of Nordic American Tankers worth $2,094,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NAT. Bank of New York Mellon Corp increased its holdings in shares of Nordic American Tankers by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 510,212 shares of the shipping company’s stock worth $1,087,000 after purchasing an additional 14,048 shares during the period. American Century Companies Inc. increased its holdings in shares of Nordic American Tankers by 25.3% during the first quarter. American Century Companies Inc. now owns 606,947 shares of the shipping company’s stock worth $1,293,000 after purchasing an additional 122,381 shares during the period. HighTower Advisors LLC increased its holdings in shares of Nordic American Tankers by 26.6% during the first quarter. HighTower Advisors LLC now owns 128,599 shares of the shipping company’s stock worth $274,000 after purchasing an additional 26,995 shares during the period. Rhumbline Advisers increased its holdings in shares of Nordic American Tankers by 11.1% during the first quarter. Rhumbline Advisers now owns 257,510 shares of the shipping company’s stock worth $548,000 after purchasing an additional 25,644 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Nordic American Tankers by 3.8% during the first quarter. BlackRock Inc. now owns 9,897,210 shares of the shipping company’s stock worth $21,082,000 after purchasing an additional 366,761 shares during the period. 42.98% of the stock is owned by institutional investors.

Nordic American Tankers Stock Performance

Shares of NYSE:NAT opened at $3.91 on Friday. The company’s 50 day simple moving average is $3.97 and its 200 day simple moving average is $3.84. The stock has a market capitalization of $815.36 million, a price-to-earnings ratio of 6.85 and a beta of 0.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.96 and a quick ratio of 0.78. Nordic American Tankers Limited has a 1 year low of $2.33 and a 1 year high of $4.65.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Monday, August 28th. The shipping company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Nordic American Tankers had a net margin of 43.81% and a return on equity of 22.32%. The business had revenue of $67.80 million for the quarter, compared to analysts’ expectations of $65.15 million. During the same period last year, the firm posted ($0.02) earnings per share. As a group, research analysts predict that Nordic American Tankers Limited will post 0.63 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Thursday, September 14th will be given a $0.13 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.52 dividend on an annualized basis and a yield of 13.32%. Nordic American Tankers’s dividend payout ratio is currently 105.27%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Nordic American Tankers in a report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet raised shares of Nordic American Tankers from a “c+” rating to a “b” rating in a report on Monday, May 22nd. Finally, B. Riley lifted their price objective on shares of Nordic American Tankers from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Tuesday.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.