AQR Capital Management LLC reduced its holdings in shares of Nordic American Tanker Ltd (NYSE:NAT) by 56.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 128,613 shares of the shipping company’s stock after selling 163,469 shares during the quarter. AQR Capital Management LLC’s holdings in Nordic American Tanker were worth $301,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Paloma Partners Management Co acquired a new position in Nordic American Tanker in the 2nd quarter worth about $25,000. Man Group plc acquired a new position in Nordic American Tanker in the 2nd quarter worth about $25,000. Chicago Equity Partners LLC acquired a new position in Nordic American Tanker in the 2nd quarter worth about $26,000. GWM Advisors LLC acquired a new position in Nordic American Tanker in the 2nd quarter worth about $28,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Nordic American Tanker in the 2nd quarter worth about $56,000. Institutional investors and hedge funds own 24.58% of the company’s stock.
A number of equities analysts have issued reports on NAT shares. ValuEngine raised Nordic American Tanker from a “strong sell” rating to a “sell” rating in a report on Friday. BTIG Research raised Nordic American Tanker from a “neutral” rating to a “buy” rating and set a $4.00 target price for the company in a report on Monday, October 7th. Zacks Investment Research cut Nordic American Tanker from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, B. Riley set a $5.00 target price on Nordic American Tanker and gave the stock a “buy” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.05.
Nordic American Tanker (NYSE:NAT) last issued its quarterly earnings results on Friday, August 16th. The shipping company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The company had revenue of $30.65 million during the quarter, compared to analysts’ expectations of $33.65 million. Nordic American Tanker had a negative return on equity of 6.26% and a negative net margin of 38.10%. Sell-side analysts forecast that Nordic American Tanker Ltd will post -0.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.97%. Nordic American Tanker’s payout ratio is -6.56%.
Nordic American Tanker Company Profile
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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