Wealth Enhancement Advisory Services LLC Acquires 8,326 Shares of Nordic American Tankers Limited (NYSE:NAT)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 49.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,258 shares of the shipping company’s stock after buying an additional 8,326 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Nordic American Tankers were worth $62,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NAT. WealthTrust Axiom LLC lifted its position in shares of Nordic American Tankers by 0.7% in the 4th quarter. WealthTrust Axiom LLC now owns 652,683 shares of the shipping company’s stock worth $1,632,000 after acquiring an additional 4,665 shares during the period. Xponance Inc. lifted its position in Nordic American Tankers by 41.4% in the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company’s stock worth $46,000 after purchasing an additional 5,439 shares during the period. Legal & General Group Plc boosted its stake in Nordic American Tankers by 20.1% during the fourth quarter. Legal & General Group Plc now owns 40,074 shares of the shipping company’s stock worth $100,000 after buying an additional 6,712 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Nordic American Tankers by 20.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 45,280 shares of the shipping company’s stock valued at $113,000 after buying an additional 7,833 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Nordic American Tankers by 18.8% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 53,105 shares of the shipping company’s stock valued at $135,000 after buying an additional 8,411 shares in the last quarter. 44.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a report on Thursday, May 29th.

Nordic American Tankers Stock Up 2.5%

Shares of NYSE NAT opened at $2.72 on Friday. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $3.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.29 and a current ratio of 1.65. The business has a fifty day moving average of $2.70 and a two-hundred day moving average of $2.62. The stock has a market cap of $574.90 million, a PE ratio of 12.34 and a beta of -0.19.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 10.31%. Nordic American Tankers’s payout ratio is 127.27%.

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.