Renaissance Technologies LLC Reduces Position in Nordic American Tankers Limited (NYSE:NAT)

Renaissance Technologies LLC cut its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 34.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507,600 shares of the shipping company’s stock after selling 266,115 shares during the period. Renaissance Technologies LLC owned approximately 0.24% of Nordic American Tankers worth $2,020,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NAT. Dimensional Fund Advisors LP raised its stake in shares of Nordic American Tankers by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after buying an additional 621,588 shares during the period. Rathbones Group PLC raised its stake in shares of Nordic American Tankers by 44.3% in the second quarter. Rathbones Group PLC now owns 234,450 shares of the shipping company’s stock worth $933,000 after buying an additional 72,000 shares during the period. Prevail Innovative Wealth Advisors LLC raised its stake in shares of Nordic American Tankers by 24.8% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 777,711 shares of the shipping company’s stock worth $3,095,000 after buying an additional 154,558 shares during the period. American Century Companies Inc. raised its stake in shares of Nordic American Tankers by 40.5% in the second quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock worth $13,928,000 after buying an additional 1,009,096 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Nordic American Tankers in the second quarter worth about $25,000. 44.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NAT has been the topic of several recent research reports. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday. Evercore ISI cut their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research report on Friday, August 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $4.00 target price on shares of Nordic American Tankers in a research report on Thursday, September 12th.

Nordic American Tankers Trading Up 1.0 %

NAT opened at $3.71 on Thursday. The stock’s fifty day moving average is $3.63 and its two-hundred day moving average is $3.85. The company has a market capitalization of $773.59 million, a P/E ratio of 11.58 and a beta of -0.19. Nordic American Tankers Limited has a 52 week low of $3.31 and a 52 week high of $4.83. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.36.

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

Nordic American Tankers Dividend Announcement

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 paid a $0.12 dividend. The ex-dividend date is Thursday, September 26th. This represents a $0.48 dividend on an annualized basis and a yield of 12.96%. Nordic American Tankers’s dividend payout ratio (DPR) is 150.00%.

Nordic American Tankers Company 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.