Nordic American Tankers (NYSE:NAT) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Nordic American Tankers (NYSE:NAT - Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

Separately, Jefferies Financial Group restated a "hold" rating and set a $3.00 price target on shares of Nordic American Tankers in a research note on Thursday, May 29th.

Nordic American Tankers Stock Up 1.5%

NYSE NAT traded up $0.04 on Friday, hitting $2.75. 1,864,820 shares of the company were exchanged, compared to its average volume of 2,601,126. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 0.49. The company has a market cap of $582.31 million, a PE ratio of 12.50 and a beta of -0.19. The stock has a fifty day moving average of $2.69 and a 200-day moving average of $2.62. Nordic American Tankers has a 12 month low of $2.13 and a 12 month high of $3.91.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.07 per share. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 10.18%. The ex-dividend date was Thursday, June 12th. Nordic American Tankers's payout ratio is currently 127.27%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new stake in Nordic American Tankers in the 4th quarter valued at $26,000. Summit Financial LLC purchased a new position in Nordic American Tankers in the fourth quarter worth $32,000. Avantax Advisory Services Inc. purchased a new stake in Nordic American Tankers during the fourth quarter worth about $33,000. Red Door Wealth Management LLC bought a new stake in Nordic American Tankers in the first quarter worth about $39,000. Finally, AXQ Capital LP purchased a new position in Nordic American Tankers in the fourth quarter valued at approximately $43,000. Institutional investors own 44.29% of the company's stock.

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.