Nordic American Tankers Limited (NYSE:NAT – Get Free Report) was the target of unusually large options trading on Friday. Stock investors bought 4,186 call options on the company. This represents an increase of approximately 95% compared to the typical volume of 2,145 call options.
Institutional Trading of Nordic American Tankers
Several institutional investors have recently made changes to their positions in NAT. Public Employees Retirement System of Ohio bought a new stake in Nordic American Tankers during the 2nd quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new position in Nordic American Tankers in the 2nd quarter worth approximately $32,000. Torren Management LLC bought a new position in Nordic American Tankers in the 4th quarter worth approximately $34,000. ROI Financial Advisors LLC purchased a new stake in Nordic American Tankers during the 4th quarter valued at approximately $36,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Nordic American Tankers by 2,800.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 10,875 shares of the shipping company’s stock valued at $37,000 after buying an additional 10,500 shares during the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.
Nordic American Tankers Price Performance
Shares of NYSE NAT traded up $0.16 during midday trading on Friday, reaching $7.15. The stock had a trading volume of 717,141 shares, compared to its average volume of 4,099,213. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 26.48 and a beta of -0.57. Nordic American Tankers has a 12-month low of $2.96 and a 12-month high of $7.20. The stock has a 50-day moving average of $6.20 and a 200-day moving average of $5.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00.
Nordic American Tankers Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a $0.22 dividend. The ex-dividend date was Wednesday, June 10th. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.17. This represents a $0.88 annualized dividend and a dividend yield of 12.3%. Nordic American Tankers’s dividend payout ratio (DPR) is presently 325.93%.
Analysts Set New Price Targets
Separately, Wall Street Zen cut Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nordic American Tankers has a consensus rating of “Reduce” and a consensus price target of $4.00.
Read Our Latest Research Report on NAT
About Nordic American Tankers
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.
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