XTX Topco Ltd Reduces Stake in Nordic American Tankers Limited (NYSE:NAT)

XTX Topco Ltd cut its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 83.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,632 shares of the shipping company’s stock after selling 54,605 shares during the period. XTX Topco Ltd’s holdings in Nordic American Tankers were worth $39,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Two Sigma Advisers LP boosted its holdings in Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock valued at $13,851,000 after acquiring an additional 1,521,900 shares in the last quarter. Penn Mutual Asset Management boosted its stake in shares of Nordic American Tankers by 25.2% during the 3rd quarter. Penn Mutual Asset Management now owns 134,000 shares of the shipping company’s stock valued at $492,000 after purchasing an additional 27,000 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Nordic American Tankers by 198.9% during the 3rd quarter. Quantbot Technologies LP now owns 207,008 shares of the shipping company’s stock valued at $760,000 after purchasing an additional 137,745 shares in the last quarter. Raymond James Trust N.A. purchased a new position in shares of Nordic American Tankers during the third quarter valued at about $37,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Nordic American Tankers by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 489,382 shares of the shipping company’s stock worth $1,796,000 after buying an additional 7,382 shares during the period. 44.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd. Evercore ISI decreased their price objective 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. Finally, Jefferies Financial Group reissued a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 29th.

Nordic American Tankers Price Performance

NAT stock opened at $2.44 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The firm has a 50 day moving average price of $3.02 and a 200-day moving average price of $3.49. Nordic American Tankers Limited has a 52-week low of $2.41 and a 52-week high of $4.64. The firm has a market capitalization of $509.46 million, a price-to-earnings ratio of 8.41 and a beta of -0.26.

Nordic American Tankers Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a yield of 19.67%. The ex-dividend date of this dividend is Tuesday, December 17th. Nordic American Tankers’s payout ratio is 55.17%.

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.