Nordic American Tankers Limited (NYSE:NAT) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 278,046 shares of the shipping company’s stock after selling 6,813 shares during the quarter. Cetera Investment Advisers owned about 0.13% of Nordic American Tankers worth $695,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Nordic American Tankers in the fourth quarter worth about $1,202,000. Commonwealth Equity Services LLC lifted its stake in Nordic American Tankers by 33.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 438,641 shares of the shipping company’s stock worth $1,097,000 after purchasing an additional 109,093 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Nordic American Tankers by 68.8% in the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock worth $2,445,000 after acquiring an additional 398,700 shares during the last quarter. Victory Capital Management Inc. raised its stake in Nordic American Tankers by 834.7% during the fourth quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock worth $1,363,000 after purchasing an additional 486,710 shares during the period. Finally, Empowered Funds LLC purchased a new position in Nordic American Tankers in the fourth quarter worth approximately $509,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Analyst Upgrades and Downgrades

NAT has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price target on shares of Nordic American Tankers in a research note on Friday, February 28th. Wall Street Zen cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, April 9th.

Nordic American Tankers Trading Up 2.9%

Shares of Nordic American Tankers stock opened at $2.68 on Monday. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $4.35. The company has a market capitalization of $566.43 million, a P/E ratio of 9.22 and a beta of -0.27. The company’s fifty day moving average is $2.53 and its two-hundred day moving average is $2.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The firm had revenue of $46.39 million for the quarter, compared to analysts’ expectations of $51.38 million. Analysts forecast that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 8.97%. The ex-dividend date was Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is 109.09%.

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 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.