AXQ Capital LP Purchases New Position in Nordic American Tankers Limited (NYSE:NAT)

AXQ Capital LP purchased a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,244 shares of the shipping company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Two Sigma Advisers LP raised its holdings in shares of Nordic American Tankers by 67.6% during the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock valued at $13,851,000 after acquiring an additional 1,521,900 shares in the last quarter. Victory Capital Management Inc. increased its position in Nordic American Tankers by 834.7% during the 4th quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock valued at $1,363,000 after purchasing an additional 486,710 shares during the period. Empowered Funds LLC bought a new position in Nordic American Tankers in the 4th quarter worth $509,000. Barclays PLC raised its holdings in Nordic American Tankers by 274.8% in the 3rd quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock worth $984,000 after purchasing an additional 196,571 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Nordic American Tankers by 198.9% in the 3rd quarter. Quantbot Technologies LP now owns 207,008 shares of the shipping company’s stock worth $760,000 after purchasing an additional 137,745 shares during the period. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Up 0.6 %

NYSE:NAT opened at $2.58 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56. The firm’s 50-day moving average price is $2.64 and its 200-day moving average price is $2.96. The company has a market capitalization of $537.65 million, a PE ratio of 8.88 and a beta of -0.33. Nordic American Tankers Limited has a 1-year low of $2.39 and a 1-year high of $4.40.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. The business had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $51.38 million. On average, equities analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date of this dividend was Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 109.09%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Monday. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Friday, February 28th.

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.