Vetr upgraded shares of Nordic American Tankers Ltd. (NYSE:NAT) from a buy rating to a strong-buy rating in a research report released on Monday. Vetr currently has $10.11 price target on the stock.

Other equities analysts have also issued research reports about the company. Morgan Stanley reaffirmed an equal weight rating and issued a $9.00 price target (down previously from $12.00) on shares of Nordic American Tankers in a research report on Friday, August 26th. Zacks Investment Research raised Nordic American Tankers from a sell rating to a hold rating in a research report on Wednesday, August 17th. TheStreet lowered Nordic American Tankers from a buy rating to a hold rating in a research report on Monday, October 24th. Wells Fargo & Co. started coverage on Nordic American Tankers in a research report on Wednesday, November 16th. They issued a market perform rating for the company. Finally, Clarkson Capital lowered Nordic American Tankers from a buy rating to a neutral rating and decreased their target price for the stock from $15.00 to $10.00 in a research report on Monday, October 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $11.69.

Nordic American Tankers (NYSE:NAT) opened at 8.79 on Monday. Nordic American Tankers has a 52-week low of $7.57 and a 52-week high of $16.18. The stock has a 50 day moving average of $8.91 and a 200-day moving average of $11.66. The company has a market capitalization of $896.31 million, a price-to-earnings ratio of 12.11 and a beta of 1.29.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.08. Nordic American Tankers had a return on equity of 7.34% and a net margin of 24.79%. During the same period last year, the firm posted $0.29 earnings per share. On average, equities research analysts anticipate that Nordic American Tankers will post $0.41 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Nordic American Tankers Ltd. (NAT) Upgraded to Strong-Buy at Vetr Inc.” was first published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this report can be viewed at http://www.dailypolitical.com/2016/11/29/nordic-american-tankers-ltd-nat-upgraded-to-strong-buy-at-vetr-inc.html.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, October 25th. This represents a $1.04 annualized dividend and a dividend yield of 11.83%. This is a positive change from Nordic American Tankers’s previous quarterly dividend of $0.25. Nordic American Tankers’s dividend payout ratio is presently 140.54%.

Several large investors have recently added to or reduced their stakes in NAT. Laurion Capital Management LP acquired a new stake in Nordic American Tankers during the third quarter valued at approximately $30,330,000. Panagora Asset Management Inc. bought a new position in shares of Nordic American Tankers during the second quarter worth about $8,887,000. Bank of New York Mellon Corp increased its position in shares of Nordic American Tankers by 90.9% in the second quarter. Bank of New York Mellon Corp now owns 1,158,340 shares of the company’s stock worth $16,090,000 after buying an additional 551,470 shares during the period. Allianz Asset Management AG increased its position in shares of Nordic American Tankers by 26.0% in the second quarter. Allianz Asset Management AG now owns 1,224,015 shares of the company’s stock worth $17,002,000 after buying an additional 252,467 shares during the period. Finally, Cipher Capital LP increased its position in shares of Nordic American Tankers by 126.5% in the second quarter. Cipher Capital LP now owns 380,390 shares of the company’s stock worth $5,284,000 after buying an additional 212,444 shares during the period. 30.98% of the stock is owned by hedge funds and other institutional investors.

About Nordic American Tankers

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

5 Day Chart for NYSE:NAT

To view Vetr’s full report, visit Vetr’s official website.

Receive News & Ratings for Nordic American Tankers Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordic American Tankers Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.