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

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

NYSE:NAT opened at $3.52 on Friday. Nordic American Tanker has a one year low of $1.66 and a one year high of $5.28. The company has a market cap of $472.96 million, a P/E ratio of -44.00 and a beta of 0.87. The firm’s fifty day moving average price is $3.07 and its two-hundred day moving average price is $3.53. 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 quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.08). Nordic American Tanker had a negative net margin of 5.90% and a negative return on equity of 1.76%. The company had revenue of $58.82 million during the quarter, compared to analyst estimates of $72.97 million. As a group, equities research analysts expect that Nordic American Tanker will post 0.65 earnings per share for the current year.

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

NAT has been the topic of a number of recent analyst reports. B. Riley restated a “buy” rating and set a $4.75 target price on shares of Nordic American Tanker in a report on Monday, December 16th. ValuEngine downgraded shares of Nordic American Tanker from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 28th. Finally, Zacks Investment Research downgraded shares of Nordic American Tanker from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Nordic American Tanker currently has a consensus rating of “Hold” and an average price target of $4.75.

Several large investors have recently added to or reduced their stakes in NAT. ProShare Advisors LLC grew its stake in shares of Nordic American Tanker by 19.0% in the fourth quarter. ProShare Advisors LLC now owns 18,889 shares of the shipping company’s stock valued at $93,000 after acquiring an additional 3,017 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Nordic American Tanker in the fourth quarter valued at about $6,033,000. Man Group plc grew its stake in shares of Nordic American Tanker by 54.7% in the third quarter. Man Group plc now owns 16,400 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 5,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Nordic American Tanker by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 296,557 shares of the shipping company’s stock valued at $1,460,000 after acquiring an additional 6,319 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Nordic American Tanker in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 35.74% of the company’s stock.

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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