JPMorgan Chase & Co. Has $978,000 Stock Position in Nordic American Tankers Limited (NYSE:NAT)

JPMorgan Chase & Co. trimmed its holdings in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 37.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 391,096 shares of the shipping company's stock after selling 238,177 shares during the period. JPMorgan Chase & Co. owned about 0.19% of Nordic American Tankers worth $978,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NAT. Barclays PLC raised its stake in Nordic American Tankers by 274.8% during the 3rd quarter. Barclays PLC now owns 268,115 shares of the shipping company's stock valued at $984,000 after purchasing an additional 196,571 shares during the period. Franklin Resources Inc. raised its position in Nordic American Tankers by 99.8% during the third quarter. Franklin Resources Inc. now owns 25,333 shares of the shipping company's stock valued at $92,000 after buying an additional 12,651 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Nordic American Tankers by 178.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 44,694 shares of the shipping company's stock valued at $171,000 after buying an additional 28,670 shares during the period. Ballentine Partners LLC lifted its stake in Nordic American Tankers by 90.7% in the 4th quarter. Ballentine Partners LLC now owns 24,737 shares of the shipping company's stock worth $62,000 after acquiring an additional 11,767 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Nordic American Tankers by 8.4% during the 4th quarter. SG Americas Securities LLC now owns 75,107 shares of the shipping company's stock worth $188,000 after acquiring an additional 5,811 shares during the period. Institutional investors own 44.29% of the company's stock.

Nordic American Tankers Price Performance

Shares of NYSE NAT traded up $0.04 during mid-day trading on Friday, hitting $2.59. 364,692 shares of the stock were exchanged, compared to its average volume of 2,547,320. Nordic American Tankers Limited has a twelve month low of $2.13 and a twelve month high of $4.40. The stock's fifty day simple moving average is $2.48 and its two-hundred day simple moving average is $2.72. 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 company has a market cap of $539.75 million, a P/E ratio of 8.91 and a beta of 0.02.

Nordic American Tankers (NYSE:NAT - Get Free Report) last released its earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The firm had revenue of $46.39 million during the quarter, compared to analyst estimates of $51.38 million. As a group, analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 9.28%. Nordic American Tankers's payout ratio is presently 109.09%.

Analysts Set New Price Targets

Several brokerages have weighed in on NAT. Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Friday, February 28th. StockNews.com downgraded shares of Nordic American Tankers from a "hold" rating to a "sell" rating in a research report on Wednesday, April 9th.

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.