Ieq Capital LLC Invests $425,000 in Nordic American Tankers Limited $NAT

Ieq Capital LLC acquired a new stake in Nordic American Tankers Limited (NYSE:NAT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 76,629 shares of the shipping company’s stock, valued at approximately $425,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new stake in shares of Nordic American Tankers in the second quarter valued at approximately $32,000. Torren Management LLC purchased a new stake in shares of Nordic American Tankers during the 4th quarter worth $34,000. ROI Financial Advisors LLC purchased a new stake in shares of Nordic American Tankers during the 4th quarter worth $36,000. Parkside Financial Bank & Trust grew its stake in shares of Nordic American Tankers by 2,800.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock worth $37,000 after purchasing an additional 10,500 shares during the period. Finally, Stokes Family Office LLC purchased a new position in shares of Nordic American Tankers in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Price Performance

NAT opened at $6.76 on Friday. The firm has a market cap of $1.43 billion, a P/E ratio of 11.46 and a beta of -0.57. The business’s fifty day simple moving average is $6.35 and its 200 day simple moving average is $5.77. Nordic American Tankers Limited has a 52 week low of $3.00 and a 52 week high of $7.20. The company has a quick ratio of 2.75, a current ratio of 3.00 and a debt-to-equity ratio of 0.83.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Thursday, August 27th. The shipping company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $79.30 million during the quarter, compared to analysts’ expectations of $84.18 million. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. As a group, equities research analysts anticipate that Nordic American Tankers Limited will post 0.6 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 16.0%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.22. Nordic American Tankers’s dividend payout ratio is currently 325.93%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NAT. Wall Street Zen raised shares of Nordic American Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday. B. Riley Financial boosted their price target on Nordic American Tankers from $7.50 to $8.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Nordic American Tankers currently has a consensus rating of “Hold” and an average price target of $5.33.

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.