Cetera Investment Advisers Buys 14,100 Shares of Nordic American Tankers Limited (NYSE:NAT)

Cetera Investment Advisers increased its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 5.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 292,146 shares of the shipping company’s stock after purchasing an additional 14,100 shares during the quarter. Cetera Investment Advisers owned 0.14% of Nordic American Tankers worth $719,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Red Door Wealth Management LLC purchased a new position in Nordic American Tankers during the 1st quarter valued at $39,000. Two Sigma Securities LLC purchased a new position in Nordic American Tankers during the 4th quarter valued at $49,000. Russell Investments Group Ltd. boosted its holdings in Nordic American Tankers by 141.4% during the 4th quarter. Russell Investments Group Ltd. now owns 20,011 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 11,722 shares during the period. Cerity Partners LLC boosted its holdings in Nordic American Tankers by 34.0% during the 1st quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 5,605 shares during the period. Finally, Pettinga Financial Advisors LLC boosted its holdings in Nordic American Tankers by 42.0% during the 1st quarter. Pettinga Financial Advisors LLC now owns 23,650 shares of the shipping company’s stock valued at $58,000 after acquiring an additional 7,000 shares during the period. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen cut Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a report on Thursday, May 29th.

Nordic American Tankers Stock Down 1.2%

Shares of NAT stock opened at $2.83 on Friday. The stock’s 50-day simple moving average is $2.76 and its 200-day simple moving average is $2.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.34 and a current ratio of 1.54. The firm has a market capitalization of $598.19 million, a PE ratio of 16.62 and a beta of -0.22. Nordic American Tankers Limited has a fifty-two week low of $2.13 and a fifty-two week high of $3.83.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 9.9%. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, June 12th. Nordic American Tankers’s dividend payout ratio is 164.71%.

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.