Sequoia Financial Advisors LLC Increases Stake in Nordic American Tankers Limited $NAT

Sequoia Financial Advisors LLC lifted its position in Nordic American Tankers Limited (NYSE:NAT) by 33.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,865 shares of the shipping company’s stock after acquiring an additional 3,998 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Nordic American Tankers were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NAT. Red Door Wealth Management LLC purchased a new position in Nordic American Tankers during the 1st quarter valued at about $39,000. Watts Gwilliam & Co. LLC purchased a new stake in shares of Nordic American Tankers in the 1st quarter worth approximately $49,000. PNC Financial Services Group Inc. boosted its stake in shares of Nordic American Tankers by 312.3% during the first quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 16,644 shares in the last quarter. Cerity Partners LLC increased its holdings in Nordic American Tankers by 34.0% during the first quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company’s stock valued at $54,000 after buying an additional 5,605 shares during the period. Finally, Pettinga Financial Advisors LLC increased its holdings in Nordic American Tankers by 42.0% during the first quarter. Pettinga Financial Advisors LLC now owns 23,650 shares of the shipping company’s stock valued at $58,000 after buying an additional 7,000 shares during the period. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Up 0.7%

Shares of NAT stock opened at $3.58 on Friday. The stock’s fifty day moving average price is $3.23 and its 200 day moving average price is $2.87. Nordic American Tankers Limited has a 1-year low of $2.13 and a 1-year high of $3.62. The company has a market cap of $757.01 million, a price-to-earnings ratio of 51.07 and a beta of -0.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.33 and a quick ratio of 2.04.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%.The business had revenue of $40.15 million during the quarter, compared to analyst estimates of $53.35 million. On average, research analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, September 12th. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 11.2%. Nordic American Tankers’s payout ratio is presently 571.43%.

Analyst Upgrades and Downgrades

NAT has been the subject of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and set a $3.00 target price on shares of Nordic American Tankers in a report on Thursday, August 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Nordic American Tankers in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

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.