B. Riley Wealth Advisors Inc. Raises Stake in Nordic American Tankers Limited (NYSE:NAT)

B. Riley Wealth Advisors Inc. increased its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 50.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,024 shares of the shipping company’s stock after buying an additional 5,347 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Nordic American Tankers were worth $66,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Magnolia Capital Advisors LLC bought a new position in shares of Nordic American Tankers during the 2nd quarter valued at approximately $176,000. Millennium Management LLC grew its holdings in Nordic American Tankers by 122.8% during the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after purchasing an additional 711,973 shares during the period. AQR Capital Management LLC increased its position in Nordic American Tankers by 180.9% in the second quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company’s stock worth $1,674,000 after buying an additional 270,946 shares during the last quarter. Sei Investments Co. increased its position in Nordic American Tankers by 9.1% in the second quarter. Sei Investments Co. now owns 91,791 shares of the shipping company’s stock worth $365,000 after buying an additional 7,663 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Nordic American Tankers in the second quarter valued at $260,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $3.67 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79. Nordic American Tankers Limited has a fifty-two week low of $3.31 and a fifty-two week high of $4.83. The stock has a market cap of $766.28 million, a PE ratio of 11.47 and a beta of -0.20. The stock has a fifty day moving average of $3.64 and a 200-day moving average of $3.84.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. The business had revenue of $66.10 million during the quarter, compared to the consensus estimate of $54.34 million. During the same quarter last year, the company earned $0.13 EPS. Equities research analysts anticipate that Nordic American Tankers Limited will post 0.38 earnings per share for the current year.

Nordic American Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 13.08%. The ex-dividend date of this dividend is Thursday, September 26th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 150.00%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NAT. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 target price on shares of Nordic American Tankers in a research note on Thursday, September 12th. Finally, Evercore ISI dropped their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th.

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.