Silver Oak Securities Incorporated Makes New Investment in Nordic American Tankers Limited $NAT

Silver Oak Securities Incorporated bought a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) during the third quarter, Holdings Channel reports. The fund bought 433,700 shares of the shipping company’s stock, valued at approximately $1,362,000.

Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of Nordic American Tankers by 19.4% during the first 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 in the last quarter. MetLife Investment Management LLC raised its stake in Nordic American Tankers by 8.9% in the first quarter. MetLife Investment Management LLC now owns 111,449 shares of the shipping company’s stock worth $274,000 after buying an additional 9,155 shares in the last quarter. Ieq Capital LLC purchased a new stake in Nordic American Tankers during the first quarter worth $67,000. AQR Capital Management LLC lifted its holdings in Nordic American Tankers by 269.8% during the first quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock worth $319,000 after buying an additional 94,514 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Nordic American Tankers by 61.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,326,919 shares of the shipping company’s stock valued at $10,644,000 after acquiring an additional 1,648,496 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI boosted their price target on Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $3.50 target price on shares of Nordic American Tankers in a research note on Friday, November 28th. Wall Street Zen downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nordic American Tankers in a research report on Monday. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.25.

Nordic American Tankers Stock Down 1.9%

Nordic American Tankers stock opened at $3.38 on Friday. Nordic American Tankers Limited has a 1-year low of $2.13 and a 1-year high of $3.93. The business has a fifty day moving average price of $3.60 and a 200-day moving average price of $3.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.95 and a quick ratio of 1.64. The stock has a market capitalization of $714.66 million, a price-to-earnings ratio of 168.83 and a beta of -0.43.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a net margin of 1.12% and a return on equity of 0.39%. The business had revenue of $40.18 million for the quarter, compared to analyst estimates of $52.89 million. Equities research analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 15.4%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, December 8th. Nordic American Tankers’s dividend payout ratio is currently 2,600.00%.

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.