SeaCrest Wealth Management LLC Sells 14,000 Shares of Nordic American Tankers Limited (NYSE:NAT)

SeaCrest Wealth Management LLC lessened its position in Nordic American Tankers Limited (NYSE:NAT) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 531,629 shares of the shipping company’s stock after selling 14,000 shares during the period. SeaCrest Wealth Management LLC owned about 0.25% of Nordic American Tankers worth $2,424,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in Nordic American Tankers by 1.0% in the second quarter. BlackRock Inc. now owns 12,245,230 shares of the shipping company’s stock valued at $44,940,000 after buying an additional 126,557 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Nordic American Tankers by 28.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,121,066 shares of the shipping company’s stock worth $29,803,000 after acquiring an additional 1,793,493 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Nordic American Tankers by 41.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 7,525,850 shares of the shipping company’s stock worth $27,620,000 after acquiring an additional 2,214,790 shares during the last quarter. Millennium Management LLC increased its holdings in Nordic American Tankers by 42.5% during the 4th quarter. Millennium Management LLC now owns 7,464,144 shares of the shipping company’s stock valued at $22,840,000 after purchasing an additional 2,225,910 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Nordic American Tankers by 0.8% during the 4th quarter. Morgan Stanley now owns 6,792,916 shares of the shipping company’s stock valued at $20,786,000 after purchasing an additional 57,089 shares in the last quarter. Institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Up 0.3 %

Shares of NYSE NAT traded up $0.01 during midday trading on Friday, hitting $3.92. The stock had a trading volume of 1,801,191 shares, compared to its average volume of 3,249,680. The firm has a market cap of $818.50 million, a P/E ratio of 8.34 and a beta of -0.10. Nordic American Tankers Limited has a fifty-two week low of $3.26 and a fifty-two week high of $4.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.55 and a quick ratio of 1.10. The company’s 50-day simple moving average is $4.14 and its 200 day simple moving average is $4.20.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, March 1st. The shipping company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). Nordic American Tankers had a return on equity of 18.12% and a net margin of 37.65%. The firm had revenue of $59.25 million during the quarter, compared to analyst estimates of $68.90 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. Research analysts anticipate that Nordic American Tankers Limited will post 0.63 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.24%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 19th. Nordic American Tankers’s payout ratio is 102.13%.

Analysts Set New Price Targets

A number of equities analysts have commented on NAT shares. Jefferies Financial Group reissued a “buy” rating and issued a $5.50 price objective on shares of Nordic American Tankers in a research note on Thursday, February 29th. TheStreet lowered shares of Nordic American Tankers from a “b-” rating to a “c+” rating in a report on Monday, February 5th. Finally, Evercore ISI dropped their target price on shares of Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating for the company in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.33.

Nordic American Tankers Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.