Nordic American Tankers (NYSE:NAT) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Nordic American Tankers shares have recently surpassed their 200-day moving average, trading at $2.80, which is an increase from the moving average of $2.63.
• The company has increased its quarterly dividend to $0.07 per share, resulting in a 10.0% yield, despite a high payout ratio of 164.71%.
• Recent analyst ratings show mixed sentiments, with Jefferies Financial Group restating a "hold" rating with a $3.00 target price, while Wall Street Zen has downgraded it to a "sell" rating.

Nordic American Tankers Limited (NYSE:NAT - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.63 and traded as high as $2.87. Nordic American Tankers shares last traded at $2.80, with a volume of 2,027,490 shares traded.

Analysts Set New Price Targets

NAT has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $3.00 price objective on shares of Nordic American Tankers in a research note on Thursday, May 29th. Wall Street Zen cut Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th.

Nordic American Tankers Stock Up 1.1%

The stock has a market cap of $603.49 million, a PE ratio of 16.76 and a beta of -0.22. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $2.76 and a 200 day moving average price of $2.64.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a $0.07 dividend. This is a boost from Nordic American Tankers's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 9.8%. The ex-dividend date of this dividend was Thursday, June 12th. Nordic American Tankers's payout ratio is 164.71%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NAT. SBI Securities Co. Ltd. lifted its holdings in Nordic American Tankers by 8.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 44,932 shares of the shipping company's stock worth $118,000 after buying an additional 3,445 shares during the last quarter. Russell Investments Group Ltd. raised its position in Nordic American Tankers by 19.4% in the 1st quarter. Russell Investments Group Ltd. now owns 23,886 shares of the shipping company's stock valued at $59,000 after purchasing an additional 3,875 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Nordic American Tankers by 33.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,865 shares of the shipping company's stock valued at $42,000 after buying an additional 3,998 shares during the period. Prospera Financial Services Inc increased its stake in Nordic American Tankers by 21.4% in the 2nd quarter. Prospera Financial Services Inc now owns 24,680 shares of the shipping company's stock valued at $65,000 after buying an additional 4,343 shares during the period. Finally, Cerity Partners LLC increased its stake in Nordic American Tankers by 34.0% in the 1st quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company's stock valued at $54,000 after buying an additional 5,605 shares during the period. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

About Nordic American Tankers

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.