Nordic American Tankers Limited (NAT) To Go Ex-Dividend on March 10th

Nordic American Tankers Limited (NYSE:NAT) declared a quarterly dividend on Tuesday, February 24th. Investors of record on Tuesday, March 10th will be paid a dividend of 0.17 per share by the shipping company on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 12.1%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a 30.8% increase from Nordic American Tankers’s previous quarterly dividend of $0.13.

Nordic American Tankers has decreased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. Nordic American Tankers has a dividend payout ratio of 194.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Nordic American Tankers to earn $0.26 per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of 261.5%.

Nordic American Tankers Price Performance

NYSE NAT opened at $5.63 on Friday. The company has a market capitalization of $1.19 billion, a PE ratio of 80.37 and a beta of -0.49. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.64 and a current ratio of 2.24. The business’s fifty day moving average is $4.37 and its 200 day moving average is $3.75. Nordic American Tankers has a fifty-two week low of $2.13 and a fifty-two week high of $6.34.

Nordic American Tankers (NYSE:NAT) last issued its quarterly earnings results on Thursday, February 26th. The shipping company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Nordic American Tankers had a return on equity of 2.47% and a net margin of 6.39%.The company had revenue of $58.76 million during the quarter, compared to analysts’ expectations of $69.43 million. Sell-side analysts predict that Nordic American Tankers will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On Nordic American Tankers

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in shares of Nordic American Tankers by 269.8% during the first quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock worth $319,000 after purchasing an additional 94,514 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Nordic American Tankers by 298.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock worth $168,000 after purchasing an additional 51,187 shares in the last quarter. Empowered Funds LLC boosted its stake in Nordic American Tankers by 8.9% in the 1st quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock worth $546,000 after purchasing an additional 18,222 shares during the period. Jane Street Group LLC boosted its stake 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 purchasing an additional 78,948 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Nordic American Tankers by 74.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 38,719 shares of the shipping company’s stock valued at $102,000 after buying an additional 16,560 shares in the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

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.