Callan Family Office LLC Invests $91,000 in Nordic American Tankers Limited (NYSE:NAT)

Callan Family Office LLC acquired a new position in Nordic American Tankers Limited (NYSE:NAT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,526 shares of the shipping company’s stock, valued at approximately $91,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Nordic American Tankers by 26.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,213 shares of the shipping company’s stock valued at $122,000 after acquiring an additional 6,940 shares during the period. Sigma Planning Corp bought a new stake in shares of Nordic American Tankers in the third quarter valued at approximately $108,000. Apollon Wealth Management LLC boosted its position in shares of Nordic American Tankers by 268.1% in the third quarter. Apollon Wealth Management LLC now owns 122,991 shares of the shipping company’s stock valued at $451,000 after acquiring an additional 89,577 shares during the period. Victory Capital Management Inc. boosted its position in shares of Nordic American Tankers by 135.1% in the third quarter. Victory Capital Management Inc. now owns 58,309 shares of the shipping company’s stock valued at $214,000 after acquiring an additional 33,507 shares during the period. Finally, MQS Management LLC bought a new stake in shares of Nordic American Tankers in the third quarter valued at approximately $186,000. Institutional investors and hedge funds own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NAT. StockNews.com cut Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group reissued a “hold” rating and issued a $3.00 price objective on shares of Nordic American Tankers in a research report on Friday, February 28th.

Nordic American Tankers Stock Up 0.2 %

Shares of NAT stock opened at $2.44 on Wednesday. The stock has a market cap of $508.42 million, a P/E ratio of 8.40 and a beta of -0.33. Nordic American Tankers Limited has a one year low of $2.39 and a one year high of $4.40. The stock has a fifty day moving average price of $2.66 and a 200 day moving average price of $3.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.73 and a quick ratio of 0.56.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $46.39 million during the quarter, compared to the consensus estimate of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. Analysts predict that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a $0.06 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.24 annualized dividend and a yield of 9.86%. Nordic American Tankers’s dividend payout ratio (DPR) is currently 109.09%.

Nordic American Tankers Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.