Creative Planning Trims Stake in Nordic American Tankers Limited (NYSE:NAT)

Creative Planning lessened its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,409 shares of the shipping company’s stock after selling 5,851 shares during the quarter. Creative Planning’s holdings in Nordic American Tankers were worth $141,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in Nordic American Tankers by 36,804.9% in the first quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock worth $2,432,000 after buying an additional 618,690 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Nordic American Tankers by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after purchasing an additional 621,588 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new stake in Nordic American Tankers in the first quarter worth $2,443,000. Vanguard Group Inc. boosted its position in Nordic American Tankers by 19.6% during the first quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock valued at $6,595,000 after buying an additional 275,707 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Nordic American Tankers by 8.5% during the first quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after buying an additional 2,904 shares during the last quarter. Institutional investors own 44.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI cut their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a report on Friday, August 30th. StockNews.com upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 price objective on shares of Nordic American Tankers in a report on Thursday, September 12th.

Nordic American Tankers Price Performance

Shares of NAT stock opened at $3.00 on Wednesday. The business’s fifty day moving average is $3.52 and its 200 day moving average is $3.76. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The stock has a market cap of $625.34 million, a price-to-earnings ratio of 10.33 and a beta of -0.21. Nordic American Tankers Limited has a twelve month low of $2.95 and a twelve month high of $4.65.

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 the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a net margin of 26.35% and a return on equity of 11.60%. The company had revenue of $66.10 million during the quarter, compared to analyst estimates of $54.34 million. During the same period last year, the business earned $0.13 EPS. Research analysts expect that Nordic American Tankers Limited will post 0.32 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 16.03%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 165.52%.

Nordic American Tankers 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.