Shares of Nordic American Tankers Ltd. (NYSE:NAT) dropped 2.7% on Thursday . The stock traded as low as $10.27 and last traded at $10.27, with a volume of 944,773 shares trading hands. The stock had previously closed at $10.55.

NAT has been the topic of several analyst reports. Vetr raised shares of Nordic American Tankers from a “hold” rating to a “buy” rating and set a $16.20 target price on the stock in a report on Wednesday, May 4th. Zacks Investment Research raised shares of Nordic American Tankers from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, April 27th. Finally, Seaport Global Securities cut shares of Nordic American Tankers from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a report on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $14.20.

The firm has a 50 day moving average price of $12.53 and a 200-day moving average price of $13.79. The company has a market cap of $918.20 million and a P/E ratio of 9.34.

Nordic American Tankers (NYSE:NAT) last released its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. During the same period in the prior year, the firm posted $0.35 earnings per share. Equities analysts expect that Nordic American Tankers Ltd. will post $0.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 9.73%.

A hedge fund recently raised its stake in Nordic American Tankers stock. California Public Employees Retirement System raised its stake in Nordic American Tankers Ltd. (NYSE:NAT) by 7.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 204,200 shares of the company’s stock after buying an additional 13,400 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Nordic American Tankers worth $3,173,000 as of its most recent SEC filing.

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 30 vessels. The Company’s Suezmaxes tankers can carry over one million barrels of oil. The vessels in the Company’s fleet are homogenous and interchangeable. The Company’s vessels are employed in the spot market.

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