Nordic American Tankers (NYSE:NAT) Stock Price Up 4.2% – Time to Buy?

Nordic American Tankers Limited (NYSE:NAT) rose 4.2% during trading on Monday . The company traded as high as $3.02 and last traded at $3.01. Approximately 973,261 shares changed hands during trading, a decline of 66% from the average daily volume of 2,897,297 shares. The stock had previously closed at $2.89.

Analyst Ratings Changes

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

Nordic American Tankers Price Performance

The company’s fifty day moving average is $2.77 and its 200 day moving average is $3.34. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 0.36. The stock has a market cap of $624.30 million, a PE ratio of 10.31 and a beta of -0.29.

Nordic American Tankers Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 17th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.48 annualized dividend and a yield of 16.05%. Nordic American Tankers’s payout ratio is 55.17%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NAT. Dimensional Fund Advisors LP increased its stake in shares of 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 last quarter. Two Sigma Advisers LP increased its holdings in shares of Nordic American Tankers by 67.6% in the 3rd 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 during the last quarter. American Century Companies Inc. increased its holdings in shares of Nordic American Tankers by 40.5% in the 2nd quarter. American Century Companies Inc. now owns 3,499,565 shares of the shipping company’s stock valued at $13,928,000 after acquiring an additional 1,009,096 shares during the last quarter. Millennium Management LLC raised its position in shares of Nordic American Tankers by 122.8% during the 2nd quarter. Millennium Management LLC now owns 1,291,682 shares of the shipping company’s stock valued at $5,141,000 after acquiring an additional 711,973 shares in the last quarter. Finally, Philip James Wealth Mangement LLC bought a new position in Nordic American Tankers during the third quarter worth $4,069,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

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.