Nordic American Tanker Sees Unusually High Options Volume (NYSE:NAT)

Nordic American Tanker Ltd (NYSE:NAT) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 8,875 call options on the company. This represents an increase of approximately 200% compared to the typical volume of 2,958 call options.

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in Nordic American Tanker by 2.0% during the 4th quarter. State Street Corp now owns 2,766,819 shares of the shipping company’s stock valued at $13,613,000 after purchasing an additional 54,932 shares during the period. Greylin Investment Mangement Inc. grew its position in shares of Nordic American Tanker by 21.5% during the 4th quarter. Greylin Investment Mangement Inc. now owns 2,260,360 shares of the shipping company’s stock worth $11,121,000 after buying an additional 399,240 shares during the period. Prudential Financial Inc. grew its position in shares of Nordic American Tanker by 775.9% during the 4th quarter. Prudential Financial Inc. now owns 1,355,330 shares of the shipping company’s stock worth $6,668,000 after buying an additional 1,200,600 shares during the period. Geode Capital Management LLC grew its position in shares of Nordic American Tanker by 16.4% during the 4th quarter. Geode Capital Management LLC now owns 1,230,503 shares of the shipping company’s stock worth $6,053,000 after buying an additional 173,264 shares during the period. Finally, EAM Global Investors LLC acquired a new stake in shares of Nordic American Tanker during the 4th quarter worth approximately $5,493,000. 35.74% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the stock. ValuEngine lowered shares of Nordic American Tanker from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 28th. Zacks Investment Research lowered shares of Nordic American Tanker from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, B. Riley reiterated a “buy” rating and issued a $4.75 price objective on shares of Nordic American Tanker in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.75.

Shares of NYSE NAT opened at $3.52 on Friday. The company has a 50 day simple moving average of $3.07 and a 200 day simple moving average of $3.53. The firm has a market cap of $472.96 million, a PE ratio of -44.00 and a beta of 0.87. Nordic American Tanker has a 1 year low of $1.66 and a 1 year high of $5.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.19 and a quick ratio of 1.81.

Nordic American Tanker (NYSE:NAT) last released its earnings results on Tuesday, February 18th. The shipping company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.08). The firm had revenue of $58.82 million for the quarter, compared to analyst estimates of $72.97 million. Nordic American Tanker had a negative net margin of 5.90% and a negative return on equity of 1.76%. As a group, research analysts anticipate that Nordic American Tanker will post 0.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Tuesday, May 26th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 15.91%. The ex-dividend date of this dividend is Friday, May 22nd. This is an increase from Nordic American Tanker’s previous quarterly dividend of $0.07. Nordic American Tanker’s dividend payout ratio is currently -400.00%.

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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