Balboa Wealth Partners Buys Shares of 17,750 Nordic American Tankers Limited (NYSE:NAT)

Balboa Wealth Partners bought a new stake in Nordic American Tankers Limited (NYSE:NAT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,750 shares of the shipping company’s stock, valued at approximately $75,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its position in Nordic American Tankers by 8.8% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 137,431 shares of the shipping company’s stock valued at $577,000 after purchasing an additional 11,135 shares during the period. Quadrant Capital Group LLC increased its position in shares of Nordic American Tankers by 22.9% during the fourth quarter. Quadrant Capital Group LLC now owns 16,057 shares of the shipping company’s stock worth $68,000 after acquiring an additional 2,990 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Nordic American Tankers by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,296,248 shares of the shipping company’s stock worth $43,245,000 after acquiring an additional 162,870 shares during the period. Apollon Wealth Management LLC increased its position in shares of Nordic American Tankers by 26.0% during the fourth quarter. Apollon Wealth Management LLC now owns 32,797 shares of the shipping company’s stock worth $138,000 after acquiring an additional 6,768 shares during the period. Finally, Fisher Asset Management LLC purchased a new stake in shares of Nordic American Tankers during the fourth quarter worth $86,000. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

Shares of NAT stock traded up $0.07 during mid-day trading on Friday, hitting $4.27. 531,823 shares of the stock were exchanged, compared to its average volume of 2,738,678. The stock’s fifty day simple moving average is $3.99 and its two-hundred day simple moving average is $4.16. The stock has a market capitalization of $891.58 million, a price-to-earnings ratio of 8.93 and a beta of -0.09. Nordic American Tankers Limited has a 12-month low of $3.44 and a 12-month high of $4.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.55.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Friday, March 1st. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The company had revenue of $59.25 million for the quarter, compared to analysts’ expectations of $68.90 million. Nordic American Tankers had a return on equity of 18.12% and a net margin of 37.65%. During the same period in the prior year, the business earned $0.17 EPS. On average, analysts forecast that Nordic American Tankers Limited will post 0.6 EPS for the current year.

Nordic American Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th were given a $0.12 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $0.48 dividend on an annualized basis and a yield of 11.24%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. Nordic American Tankers’s dividend payout ratio (DPR) is presently 102.13%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NAT. Evercore ISI cut their price objective on Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating on the stock in a research report on Thursday, February 29th. Jefferies Financial Group reissued a “buy” rating and issued a $5.50 target price on shares of Nordic American Tankers in a report on Thursday, February 29th. TheStreet lowered Nordic American Tankers from a “b-” rating to a “c+” rating in a report on Monday, February 5th. Finally, StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.