Nordic American Tankers Limited $NAT Shares Acquired by BlackRock Inc.

BlackRock Inc. raised its holdings in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,764,448 shares of the shipping company's stock after acquiring an additional 746,279 shares during the period. BlackRock Inc. owned approximately 6.03% of Nordic American Tankers worth $70,715,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NAT. Dimensional Fund Advisors LP raised its position in Nordic American Tankers by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 12,189,811 shares of the shipping company's stock valued at $71,430,000 after acquiring an additional 460,555 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Nordic American Tankers by 7.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,124,150 shares of the shipping company's stock valued at $16,090,000 after buying an additional 369,462 shares during the period. CenterBook Partners LP raised its position in shares of Nordic American Tankers by 110.1% in the fourth quarter. CenterBook Partners LP now owns 3,700,409 shares of the shipping company's stock worth $12,729,000 after acquiring an additional 1,939,211 shares during the period. Millennium Management LLC boosted its stake in shares of Nordic American Tankers by 108.3% during the 3rd quarter. Millennium Management LLC now owns 2,429,423 shares of the shipping company's stock worth $7,628,000 after acquiring an additional 1,263,228 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of Nordic American Tankers by 83.9% in the 3rd quarter. UBS Group AG now owns 2,277,830 shares of the shipping company's stock valued at $7,152,000 after purchasing an additional 1,039,353 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. B. Riley Financial increased their price objective on shares of Nordic American Tankers from $7.50 to $8.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen raised shares of Nordic American Tankers from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One equities research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $5.33.

Nordic American Tankers Stock Performance

Shares of Nordic American Tankers stock opened at $6.76 on Monday. Nordic American Tankers Limited has a one year low of $3.00 and a one year high of $7.20. The company 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 debt-to-equity ratio of 0.78, a quick ratio of 3.05 and a current ratio of 3.27. The business's 50 day moving average price is $6.35 and its 200 day moving average price is $5.78.

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

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 16.0%. The ex-dividend date of this dividend is Thursday, September 10th. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.22. Nordic American Tankers's dividend payout ratio is currently 325.93%.

About Nordic American Tankers

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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