Quantbot Technologies LP Raises Stake in Nordic American Tankers Limited $NAT

Quantbot Technologies LP boosted its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 511.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,312 shares of the shipping company’s stock after buying an additional 96,464 shares during the quarter. Quantbot Technologies LP owned approximately 0.05% of Nordic American Tankers worth $362,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. HBK Sorce Advisory LLC purchased a new position in Nordic American Tankers in the third quarter valued at about $33,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Nordic American Tankers during the 3rd quarter worth approximately $32,000. Savant Capital LLC purchased a new stake in shares of Nordic American Tankers during the 2nd quarter worth approximately $28,000. Fortis Capital Advisors LLC bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth approximately $37,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Nordic American Tankers in the 3rd quarter worth approximately $37,000. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

Shares of NAT stock opened at $5.37 on Wednesday. The stock has a market capitalization of $1.14 billion, a P/E ratio of 76.65 and a beta of -0.50. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $4.45 and its 200 day moving average is $3.79. Nordic American Tankers Limited has a 12 month low of $2.13 and a 12 month high of $6.34.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings data on Thursday, February 26th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%.The business had revenue of $58.76 million during the quarter, compared to the consensus estimate of $69.43 million. On average, sell-side analysts anticipate that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 12.7%. Nordic American Tankers’s dividend payout ratio is 971.43%.

Analyst Ratings Changes

NAT has been the subject of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Wall Street Zen upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 28th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nordic American Tankers has a consensus rating of “Hold” and a consensus price target of $3.25.

Nordic American Tankers Profile

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.