Empowered Funds LLC Invests $5.51 Million in Nordic American Tankers Limited $NAT

Key Points

• Empowered Funds LLC acquired 995,365 shares of Nordic American Tankers, valued at approximately $5.51 million and representing about 0.47% of the company. Institutional investors collectively own 44.29% of NAT.
• Analyst sentiment remains mixed: B. Riley raised its price target to $8.00 with a Buy rating, while the broader consensus is Hold with an average target of $5.33.
• Nordic American Tankers reported quarterly EPS of $0.32, exceeding estimates of $0.30, and increased its quarterly dividend to $0.27 per share—an annualized $1.08 payout and approximately 16% yield.

Empowered Funds LLC acquired a new stake in Nordic American Tankers Limited (NYSE:NAT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 995,365 shares of the shipping company's stock, valued at approximately $5,514,000. Empowered Funds LLC owned approximately 0.47% of Nordic American Tankers as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Nordic American Tankers during the second quarter worth $30,000. Ausdal Financial Partners Inc. acquired a new stake in Nordic American Tankers in the 2nd quarter valued at $90,000. Bank of America Corp DE acquired a new stake in Nordic American Tankers in the 2nd quarter valued at $1,890,000. Legal & General Group Plc purchased a new position in Nordic American Tankers in the second quarter valued at about $176,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Nordic American Tankers during the second quarter worth about $297,000. Institutional investors and hedge funds own 44.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NAT. B. Riley Financial upped their target price on Nordic American Tankers from $7.50 to $8.00 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen upgraded Nordic American Tankers from a "buy" rating to a "strong-buy" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Nordic American Tankers currently has a consensus rating of "Hold" and an average price target of $5.33.

Nordic American Tankers Stock Performance

Shares of NAT opened at $6.76 on Monday. The business's 50 day moving average is $6.35 and its two-hundred day moving average is $5.78. Nordic American Tankers Limited has a 52-week low of $3.00 and a 52-week high of $7.20. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 11.46 and a beta of -0.57. The company has a quick ratio of 3.05, a current ratio of 3.27 and a debt-to-equity ratio of 0.78.

Nordic American Tankers (NYSE:NAT - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The shipping company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. The business had revenue of $79.30 million during the quarter, compared to the consensus estimate of $84.18 million. Nordic American Tankers had a net margin of 47.04% and a return on equity of 20.58%. Analysts forecast that Nordic American Tankers Limited will post 0.6 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.08 annualized dividend and a yield of 16.0%. This is an increase from Nordic American Tankers's previous quarterly dividend of $0.22. Nordic American Tankers's dividend payout ratio (DPR) is 325.93%.

Nordic American Tankers Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.