Charles Schwab Investment Management Inc. Boosts Position in Nordic American Tankers Limited $NAT

Charles Schwab Investment Management Inc. raised its position in Nordic American Tankers Limited (NYSE:NAT) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 502,148 shares of the shipping company’s stock after acquiring an additional 12,781 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.24% of Nordic American Tankers worth $1,235,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in Nordic American Tankers by 312.3% in the first quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company’s stock worth $54,000 after purchasing an additional 16,644 shares during the period. XTX Topco Ltd raised its stake in Nordic American Tankers by 46.5% during the 1st quarter. XTX Topco Ltd now owns 78,086 shares of the shipping company’s stock valued at $192,000 after acquiring an additional 24,774 shares in the last quarter. Cetera Investment Advisers boosted its position in Nordic American Tankers by 5.1% during the 1st quarter. Cetera Investment Advisers now owns 292,146 shares of the shipping company’s stock worth $719,000 after acquiring an additional 14,100 shares during the period. Pettinga Financial Advisors LLC grew its stake in shares of Nordic American Tankers by 42.0% in the first quarter. Pettinga Financial Advisors LLC now owns 23,650 shares of the shipping company’s stock worth $58,000 after purchasing an additional 7,000 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of Nordic American Tankers by 11.9% in the first quarter. SBI Securities Co. Ltd. now owns 41,487 shares of the shipping company’s stock worth $102,000 after purchasing an additional 4,409 shares in the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NAT shares. Jefferies Financial Group reiterated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Thursday, August 28th. Wall Street Zen cut shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.00.

Nordic American Tankers Price Performance

NYSE:NAT opened at $3.12 on Tuesday. The business’s 50-day moving average price is $2.81 and its 200 day moving average price is $2.66. The firm has a market cap of $659.60 million, a P/E ratio of 44.50 and a beta of -0.22. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $3.83. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.53.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The firm had revenue of $40.15 million for the quarter, compared to analyst estimates of $53.35 million. Nordic American Tankers had a return on equity of 2.64% and a net margin of 7.58%. As a group, sell-side analysts predict that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 12th. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a yield of 12.8%. Nordic American Tankers’s dividend payout ratio is presently 400.00%.

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.