JPMorgan Chase & Co. Reduces Stock Position in Nordic American Tankers Limited (NYSE:NAT)

JPMorgan Chase & Co. reduced its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 60.1% in the third quarter, HoldingsChannel.com reports. The firm owned 629,273 shares of the shipping company’s stock after selling 946,604 shares during the period. JPMorgan Chase & Co.’s holdings in Nordic American Tankers were worth $2,309,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Two Sigma Advisers LP lifted its holdings in Nordic American Tankers by 67.6% in the third quarter. Two Sigma Advisers LP now owns 3,774,100 shares of the shipping company’s stock worth $13,851,000 after buying an additional 1,521,900 shares during the period. Philip James Wealth Mangement LLC purchased a new stake in Nordic American Tankers in the third quarter worth about $4,069,000. Millennium Management LLC lifted its holdings in Nordic American Tankers by 122.8% in the second quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock worth $5,141,000 after buying an additional 711,973 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Nordic American Tankers by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 11,606,339 shares of the shipping company’s stock worth $46,195,000 after buying an additional 621,588 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Nordic American Tankers by 180.9% in the second quarter. AQR Capital Management LLC now owns 420,727 shares of the shipping company’s stock worth $1,674,000 after buying an additional 270,946 shares during the period. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a report on Friday, November 29th.

Nordic American Tankers Price Performance

NAT stock opened at $2.67 on Wednesday. The firm has a 50 day moving average price of $2.73 and a 200-day moving average price of $3.28. Nordic American Tankers Limited has a 52-week low of $2.41 and a 52-week high of $4.55. The firm has a market capitalization of $556.66 million, a price-to-earnings ratio of 9.19 and a beta of -0.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Friday, November 29th. The shipping company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. Equities research analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, January 16th. Investors of record on Tuesday, December 17th were given a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a dividend yield of 18.00%. The ex-dividend date of this dividend was Tuesday, December 17th. Nordic American Tankers’s dividend payout ratio (DPR) is currently 55.17%.

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.