Nordic American Tankers (NYSE:NAT) Upgraded 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 report sent to investors on Saturday morning.

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

Nordic American Tankers Trading Down 0.7%

NYSE:NAT traded down $0.02 during midday trading on Friday, hitting $2.72. 1,905,125 shares of the company traded hands, compared to its average volume of 2,598,918. The firm has a market capitalization of $575.96 million, a P/E ratio of 12.36 and a beta of -0.19. The firm's fifty day moving average is $2.69 and its 200-day moving average is $2.62. Nordic American Tankers has a 12-month low of $2.13 and a 12-month high of $3.91. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 0.49.

Nordic American Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid 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 dividend yield of 10.29%. The ex-dividend date of this dividend was Thursday, June 12th. Nordic American Tankers's payout ratio is currently 127.27%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC bought a new position in Nordic American Tankers in the 4th quarter worth about $26,000. Summit Financial LLC purchased a new position in Nordic American Tankers during the 4th quarter worth $32,000. Avantax Advisory Services Inc. bought a new stake in Nordic American Tankers during the 4th quarter valued at $33,000. Red Door Wealth Management LLC purchased a new stake in shares of Nordic American Tankers in the 1st quarter worth $39,000. Finally, AXQ Capital LP bought a new position in shares of Nordic American Tankers during the 4th quarter worth $43,000. Hedge funds and other 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.