Nordic American Tankers Target of Unusually Large Options Trading (NYSE:NAT)

Nordic American Tankers Limited (NYSE:NAT) was the recipient of unusually large options trading on Monday. Investors purchased 53,398 call options on the stock. This represents an increase of 1,320% compared to the typical volume of 3,761 call options.

Nordic American Tankers Stock Up 0.1%

Shares of NAT stock opened at $5.63 on Tuesday. The stock has a 50 day moving average of $4.41 and a 200 day moving average of $3.78. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.19 billion, a P/E ratio of 80.37 and a beta of -0.50. Nordic American Tankers has a twelve month low of $2.13 and a twelve month high of $6.34.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Thursday, February 26th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $58.76 million during the quarter, compared to analysts’ expectations of $69.43 million. Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%. As a group, sell-side analysts expect that Nordic American Tankers will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 12.1%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, March 10th. Nordic American Tankers’s payout ratio is currently 742.86%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NAT. Jefferies Financial Group reiterated a “hold” rating and issued a $3.50 price target on shares of Nordic American Tankers in a report on Friday, November 28th. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Savant Capital LLC purchased a new stake in shares of Nordic American Tankers during the 2nd quarter worth about $28,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Nordic American Tankers in the 3rd quarter valued at about $32,000. BlueStem Wealth Partners LLC acquired a new position in Nordic American Tankers in the 3rd quarter worth about $32,000. HBK Sorce Advisory LLC acquired a new position in Nordic American Tankers in the 3rd quarter worth about $33,000. Finally, Torren Management LLC purchased a new position in Nordic American Tankers during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.