CenterBook Partners LP Increases Holdings in Nordic American Tankers Limited $NAT

CenterBook Partners LP lifted its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 110.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,700,409 shares of the shipping company’s stock after buying an additional 1,939,211 shares during the period. CenterBook Partners LP’s holdings in Nordic American Tankers were worth $12,729,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NAT. BlueStem Wealth Partners LLC purchased a new stake in shares of Nordic American Tankers during the 3rd quarter worth approximately $32,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Nordic American Tankers during the 3rd quarter worth approximately $32,000. Torren Management LLC purchased a new stake in shares of Nordic American Tankers during the 4th quarter worth approximately $34,000. Caprock Group LLC purchased a new stake in shares of Nordic American Tankers during the 3rd quarter worth approximately $36,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Nordic American Tankers by 99.3% during the 4th quarter. Farther Finance Advisors LLC now owns 11,294 shares of the shipping company’s stock worth $39,000 after acquiring an additional 5,626 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Down 0.1%

Shares of Nordic American Tankers stock opened at $5.39 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.00 and a quick ratio of 2.75. Nordic American Tankers Limited has a 1 year low of $2.60 and a 1 year high of $6.34. The company has a market capitalization of $1.14 billion, a P/E ratio of 19.94 and a beta of -0.57. The business has a 50 day moving average price of $5.65 and a 200 day moving average price of $4.75.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Nordic American Tankers had a return on equity of 9.16% and a net margin of 24.19%.The firm had revenue of $77.51 million during the quarter, compared to the consensus estimate of $81.86 million. Sell-side analysts anticipate that Nordic American Tankers Limited will post 0.58 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be issued a $0.22 dividend. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, June 10th. This represents a $0.88 annualized dividend and a yield of 16.3%. Nordic American Tankers’s payout ratio is presently 251.85%.

Analysts Set New Price Targets

NAT has been the topic of several research analyst reports. Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target on the stock. in a research note on Tuesday, April 21st. Wall Street Zen upgraded Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $4.00.

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.