SeaCrest Wealth Management LLC Sells 14,000 Shares of Nordic American Tankers Limited (NYSE:NAT)

SeaCrest Wealth Management LLC cut its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 2.6% during the 4th quarter, HoldingsChannel reports. The firm owned 531,629 shares of the shipping company’s stock after selling 14,000 shares during the period. SeaCrest Wealth Management LLC’s holdings in Nordic American Tankers were worth $2,424,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC purchased a new position in Nordic American Tankers during the first quarter valued at $25,000. Quantbot Technologies LP bought a new position in shares of Nordic American Tankers in the 2nd quarter worth about $30,000. B. Riley Wealth Advisors Inc. purchased a new position in Nordic American Tankers during the 3rd quarter valued at about $31,000. Franklin Resources Inc. bought a new stake in Nordic American Tankers during the fourth quarter worth about $36,000. Finally, Clear Street Markets LLC purchased a new stake in Nordic American Tankers in the fourth quarter worth about $37,000. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Up 0.3 %

Nordic American Tankers stock traded up $0.01 during trading hours on Friday, hitting $3.92. The stock had a trading volume of 1,801,191 shares, compared to its average volume of 3,249,680. The stock’s 50-day moving average price is $4.14 and its 200-day moving average price is $4.20. The stock has a market capitalization of $818.50 million, a P/E ratio of 8.34 and a beta of -0.10. Nordic American Tankers Limited has a 12-month low of $3.26 and a 12-month high of $4.83. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.50.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings results on Friday, March 1st. The shipping company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). The firm had revenue of $59.25 million for the quarter, compared to the consensus estimate of $68.90 million. Nordic American Tankers had a net margin of 37.65% and a return on equity of 18.12%. During the same period last year, the business earned $0.17 EPS. Equities research analysts anticipate that Nordic American Tankers Limited will post 0.63 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 20th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, March 19th. This represents a $0.48 annualized dividend and a dividend yield of 12.24%. This is a boost from Nordic American Tankers’s previous quarterly dividend of $0.06. Nordic American Tankers’s payout ratio is currently 102.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NAT shares. TheStreet lowered shares of Nordic American Tankers from a “b-” rating to a “c+” rating in a report on Monday, February 5th. Jefferies Financial Group reiterated a “buy” rating and set a $5.50 price objective on shares of Nordic American Tankers in a research note on Thursday, February 29th. Finally, Evercore ISI dropped their target price on Nordic American Tankers from $5.00 to $4.50 and set an “in-line” rating on the stock in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Nordic American Tankers presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 19 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.