BlackRock Inc. Buys 607,170 Shares of Nordic American Tanker Ltd (NAT)

BlackRock Inc. grew its stake in shares of Nordic American Tanker Ltd (NYSE:NAT) by 9.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,120,379 shares of the shipping company’s stock after buying an additional 607,170 shares during the quarter. BlackRock Inc. owned 5.02% of Nordic American Tanker worth $19,083,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NAT. Bienville Capital Management LLC purchased a new stake in shares of Nordic American Tanker during the second quarter worth about $1,512,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Nordic American Tanker by 40.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,491,784 shares of the shipping company’s stock worth $3,998,000 after purchasing an additional 430,372 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Nordic American Tanker by 33.9% during the first quarter. Guggenheim Capital LLC now owns 1,520,415 shares of the shipping company’s stock worth $2,950,000 after purchasing an additional 384,775 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Nordic American Tanker by 74.8% during the first quarter. Wells Fargo & Company MN now owns 794,977 shares of the shipping company’s stock worth $1,542,000 after purchasing an additional 340,098 shares during the period. Finally, Greylin Investment Mangement Inc. boosted its holdings in shares of Nordic American Tanker by 16.3% during the second quarter. Greylin Investment Mangement Inc. now owns 1,656,895 shares of the shipping company’s stock worth $4,440,000 after purchasing an additional 232,599 shares during the period. Institutional investors own 24.84% of the company’s stock.

Shares of NAT opened at $2.44 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.91 and a debt-to-equity ratio of 0.53. Nordic American Tanker Ltd has a one year low of $1.82 and a one year high of $4.70. The stock has a market capitalization of $335.05 million, a price-to-earnings ratio of -3.45 and a beta of 0.30.



Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings data on Tuesday, August 14th. The shipping company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.02). Nordic American Tanker had a negative return on equity of 13.97% and a negative net margin of 87.25%. The company had revenue of $27.01 million during the quarter, compared to analysts’ expectations of $28.57 million. Sell-side analysts predict that Nordic American Tanker Ltd will post -0.46 EPS for the current fiscal year.

A number of analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Nordic American Tanker from $2.25 to $2.50 and gave the stock a “$2.37” rating in a report on Wednesday, July 18th. ValuEngine upgraded shares of Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered shares of Nordic American Tanker from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Maxim Group restated a “sell” rating and issued a $1.00 price objective on shares of Nordic American Tanker in a report on Tuesday, August 14th. Finally, BTIG Research began coverage on shares of Nordic American Tanker in a report on Thursday, September 27th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $2.38.

About Nordic American Tanker

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 33 Suezmax crude oil tankers. The company was founded in 1995 and is based in Hamilton, Bermuda.

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

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