Goldman Sachs Group Inc. Has $31.61 Million Position in Nordic American Tankers Limited (NYSE:NAT)

Goldman Sachs Group Inc. lifted its holdings in Nordic American Tankers Limited (NYSE:NAT) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,526,137 shares of the shipping company’s stock after purchasing an additional 221,478 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Nordic American Tankers were worth $31,610,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Significant Wealth Partners LLC bought a new stake in Nordic American Tankers during the fourth quarter worth $4,267,000. Qube Research & Technologies Ltd grew its stake in shares of Nordic American Tankers by 783.8% in the third quarter. Qube Research & Technologies Ltd now owns 484,179 shares of the shipping company’s stock valued at $1,995,000 after acquiring an additional 429,396 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Nordic American Tankers by 112.9% in the third quarter. Rhumbline Advisers now owns 662,435 shares of the shipping company’s stock valued at $2,729,000 after acquiring an additional 351,216 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Nordic American Tankers by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,296,248 shares of the shipping company’s stock valued at $43,245,000 after acquiring an additional 162,870 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Nordic American Tankers by 3.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,047,454 shares of the shipping company’s stock worth $16,999,000 after buying an additional 152,166 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Price Performance

NAT opened at $4.06 on Friday. The company has a market capitalization of $847.73 million, a price-to-earnings ratio of 12.69 and a beta of -0.12. Nordic American Tankers Limited has a 1 year low of $3.45 and a 1 year high of $4.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.77 and a quick ratio of 0.60. The firm’s fifty day moving average price is $4.03 and its two-hundred day moving average price is $4.12.

Nordic American Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 11.82%. The ex-dividend date is Friday, June 28th. Nordic American Tankers’s dividend payout ratio is currently 150.00%.

Wall Street Analysts Forecast Growth

NAT has been the subject of a number of research reports. Jefferies Financial Group dropped their target price on shares of Nordic American Tankers from $5.50 to $5.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Evercore ISI dropped their price objective on shares of Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating for the company in a report on Thursday, February 29th. Finally, StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

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.