Dimensional Fund Advisors LP Has $71.43 Million Stock Position in Nordic American Tankers Limited $NAT

Key Points

• Dimensional Fund Advisors increased its Nordic American Tankers stake by 3.9% in the first quarter, owning 12.19 million shares valued at approximately $71.43 million, or 5.76% of the company. Institutional investors collectively own 44.29% of NAT.
• Nordic American Tankers reported quarterly EPS of $0.17, slightly above analyst estimates, while revenue of $77.51 million fell short of expectations. The company raised its quarterly dividend to $0.22 per share, implying an annualized yield of 13.5%.
• Analyst sentiment remains cautious: NAT has a consensus rating of “Reduce” and a $4.00 price target, well below its recent $6.51 share price; Evercore downgraded the stock to “underperform” with a $4.50 target.

Dimensional Fund Advisors LP boosted its stake in Nordic American Tankers Limited (NYSE:NAT - Free Report) by 3.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 12,189,811 shares of the shipping company's stock after buying an additional 460,555 shares during the period. Dimensional Fund Advisors LP owned approximately 5.76% of Nordic American Tankers worth $71,430,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Simcoe Capital LLC purchased a new stake in shares of Nordic American Tankers in the fourth quarter worth approximately $3,522,000. CenterBook Partners LP boosted its holdings in Nordic American Tankers by 110.1% during the 4th quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company's stock valued at $12,729,000 after acquiring an additional 1,939,211 shares during the period. WINTON GROUP Ltd purchased a new stake in Nordic American Tankers in the second quarter worth $379,000. Cerity Partners LLC increased its stake in Nordic American Tankers by 54.2% in the second quarter. Cerity Partners LLC now owns 34,043 shares of the shipping company's stock worth $90,000 after purchasing an additional 11,971 shares during the period. Finally, Norges Bank bought a new stake in shares of Nordic American Tankers during the second quarter worth $1,264,000. 44.29% of the stock is owned by institutional investors.

Nordic American Tankers Stock Down 2.3%

Shares of NAT opened at $6.51 on Friday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 24.11 and a beta of -0.57. Nordic American Tankers Limited has a 52 week low of $2.72 and a 52 week high of $6.73. The stock's 50-day moving average price is $5.84 and its 200-day moving average price is $5.42. The company has a quick ratio of 2.75, a current ratio of 3.00 and a debt-to-equity ratio of 0.83.

Nordic American Tankers (NYSE:NAT - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The company had revenue of $77.51 million during the quarter, compared to the consensus estimate of $81.86 million. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%. On average, sell-side analysts predict that Nordic American Tankers Limited will post 0.58 EPS for the current year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 13.5%. This is a boost from Nordic American Tankers's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. Nordic American Tankers's payout ratio is currently 325.93%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NAT. Evercore lowered shares of Nordic American Tankers from an "in-line" rating to an "underperform" rating and set a $4.50 target price for the company. in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Nordic American Tankers from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 26th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $4.00.

Nordic American Tankers Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.

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