CenterBook Partners LP Increases Holdings in Nordic American Tankers Limited $NAT

CenterBook Partners LP boosted its stake in Nordic American Tankers Limited (NYSE:NAT) by 168.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,761,198 shares of the shipping company’s stock after purchasing an additional 1,104,929 shares during the period. CenterBook Partners LP’s holdings in Nordic American Tankers were worth $5,530,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NAT. AQR Capital Management LLC boosted its position in shares of Nordic American Tankers by 269.8% in the first quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock worth $319,000 after buying an additional 94,514 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in shares of Nordic American Tankers by 298.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock valued at $168,000 after buying an additional 51,187 shares during the period. Empowered Funds LLC lifted its position in Nordic American Tankers by 8.9% during the 1st quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock worth $546,000 after acquiring an additional 18,222 shares in the last quarter. Jane Street Group LLC boosted its holdings in Nordic American Tankers by 22.6% in the 1st quarter. Jane Street Group LLC now owns 428,298 shares of the shipping company’s stock worth $1,054,000 after acquiring an additional 78,948 shares during the period. Finally, CWM LLC boosted its holdings in Nordic American Tankers by 406.9% in the 2nd quarter. CWM LLC now owns 41,908 shares of the shipping company’s stock worth $110,000 after acquiring an additional 33,641 shares during the period. Institutional investors and hedge funds own 44.29% of the company’s stock.

Nordic American Tankers Stock Performance

Shares of NAT stock opened at $4.61 on Wednesday. The stock has a market capitalization of $976.17 million, a price-to-earnings ratio of 230.62 and a beta of -0.43. Nordic American Tankers Limited has a one year low of $2.13 and a one year high of $4.65. The company’s 50-day simple moving average is $3.87 and its 200-day simple moving average is $3.53. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.64 and a current ratio of 1.95.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Friday, November 28th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). Nordic American Tankers had a net margin of 1.12% and a return on equity of 0.39%. The firm had revenue of $40.18 million for the quarter, compared to analyst estimates of $52.89 million. Equities analysts anticipate that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.52 annualized dividend and a dividend yield of 11.3%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.10. Nordic American Tankers’s dividend payout ratio is currently 2,600.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Evercore raised their target price on Nordic American Tankers from $2.50 to $3.00 and gave the company an “in-line” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 target price on shares of Nordic American Tankers in a research report on Friday, November 28th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Nordic American Tankers has an average rating of “Hold” and a consensus price target of $3.25.

Nordic American Tankers Company 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.