JPMorgan Chase & Co. lowered its position in Nordic American Tankers Limited (NYSE:NAT) by 5.1% during the first quarter, Holdings Channel reports. The fund owned 23,207 shares of the shipping company’s stock after selling 1,256 shares during the period. JPMorgan Chase & Co.’s holdings in Nordic American Tankers Limited were worth $190,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NAT. State Street Corp increased its position in Nordic American Tankers Limited by 12.3% in the fourth quarter. State Street Corp now owns 1,624,244 shares of the shipping company’s stock worth $13,646,000 after buying an additional 177,465 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Nordic American Tankers Limited by 9.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 67,117 shares of the shipping company’s stock worth $564,000 after buying an additional 6,012 shares during the last quarter. Norges Bank acquired a new position in Nordic American Tankers Limited during the fourth quarter worth approximately $5,608,000. Teachers Advisors LLC increased its position in Nordic American Tankers Limited by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 164,120 shares of the shipping company’s stock worth $1,379,000 after buying an additional 20,862 shares during the last quarter. Finally, Greylin Investment Mangement Inc. increased its position in Nordic American Tankers Limited by 1.9% in the first quarter. Greylin Investment Mangement Inc. now owns 194,225 shares of the shipping company’s stock worth $1,589,000 after buying an additional 3,600 shares during the last quarter. 27.02% of the stock is owned by institutional investors.

Shares of Nordic American Tankers Limited (NYSE:NAT) opened at 5.71 on Monday. The firm’s market cap is $582.24 million. The company’s 50 day moving average is $6.10 and its 200-day moving average is $7.40. Nordic American Tankers Limited has a 12 month low of $5.47 and a 12 month high of $12.52.

The company also recently disclosed a dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 10th. Nordic American Tankers Limited’s dividend payout ratio is 4,000.00%.

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A number of equities analysts have recently commented on NAT shares. Zacks Investment Research downgraded shares of Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Maxim Group reaffirmed a “sell” rating and set a $6.00 price objective on shares of Nordic American Tankers Limited in a report on Friday, April 21st. Jefferies Group LLC reaffirmed a “sell” rating and set a $5.00 price objective (down from $7.00) on shares of Nordic American Tankers Limited in a report on Monday, May 8th. Finally, Vetr downgraded shares of Nordic American Tankers Limited from a “strong-buy” rating to a “buy” rating and set a $7.08 price objective for the company. in a report on Monday, May 8th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.07.

Nordic American Tankers Limited Company Profile

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.

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Institutional Ownership by Quarter for Nordic American Tankers Limited (NYSE:NAT)

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