Caprock Group LLC Takes $55,000 Position in Nordic American Tankers Limited (NYSE:NAT)

Caprock Group LLC bought a new position in Nordic American Tankers Limited (NYSE:NAT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,453 shares of the shipping company’s stock, valued at approximately $55,000.

Other institutional investors have also recently bought and sold shares of the company. Diversify Advisory Services LLC purchased a new position in shares of Nordic American Tankers in the 1st quarter worth $41,000. B. Riley Wealth Advisors Inc. acquired a new stake in Nordic American Tankers in the 1st quarter valued at $45,000. SG Americas Securities LLC acquired a new stake in Nordic American Tankers in the 1st quarter valued at $47,000. Seelaus Asset Management LLC acquired a new stake in Nordic American Tankers in the 1st quarter valued at $59,000. Finally, Pettinga Financial Advisors LLC increased its holdings in Nordic American Tankers by 38.3% in the 1st quarter. Pettinga Financial Advisors LLC now owns 15,900 shares of the shipping company’s stock valued at $62,000 after purchasing an additional 4,400 shares in the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Nordic American Tankers Stock Performance

Shares of NYSE NAT opened at $3.63 on Friday. The firm’s 50-day moving average price is $3.65 and its two-hundred day moving average price is $3.89. The stock has a market capitalization of $757.94 million, a P/E ratio of 11.34 and a beta of -0.19. The company has a quick ratio of 0.60, a current ratio of 0.77 and a debt-to-equity ratio of 0.36. Nordic American Tankers Limited has a 52-week low of $3.31 and a 52-week high of $4.83.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Tuesday, September 3rd. The shipping company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.56% and a net margin of 26.35%. The company had revenue of $66.10 million for the quarter, compared to analysts’ expectations of $54.34 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, sell-side analysts forecast that Nordic American Tankers Limited will post 0.41 earnings per share for the current year.

Nordic American Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.22%. Nordic American Tankers’s dividend payout ratio is presently 150.00%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NAT shares. Evercore ISI lowered their price target on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a report on Friday, August 30th. Jefferies Financial Group restated a “hold” rating and set a $4.00 target price on shares of Nordic American Tankers in a research note on Thursday. Finally, StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th.

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.