Wells Fargo & Company MN Has $3.09 Million Stake in Nordic American Tankers Limited (NAT)

Wells Fargo & Company MN grew its stake in shares of Nordic American Tankers Limited (NYSE:NAT) by 19.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 486,605 shares of the shipping company’s stock after purchasing an additional 77,822 shares during the quarter. Wells Fargo & Company MN owned approximately 0.48% of Nordic American Tankers Limited worth $3,085,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Nordic American Tankers Limited by 37.9% during the second quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 4,454 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Nordic American Tankers Limited during the first quarter valued at approximately $106,000. Karp Capital Management Corp purchased a new stake in shares of Nordic American Tankers Limited during the first quarter valued at approximately $118,000. Aperio Group LLC boosted its stake in shares of Nordic American Tankers Limited by 55.2% during the second quarter. Aperio Group LLC now owns 22,476 shares of the shipping company’s stock valued at $142,000 after purchasing an additional 7,994 shares during the period. Finally, Sigma Planning Corp boosted its stake in shares of Nordic American Tankers Limited by 44.2% during the second quarter. Sigma Planning Corp now owns 23,880 shares of the shipping company’s stock valued at $151,000 after purchasing an additional 7,318 shares during the period. 23.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Nordic American Tankers Limited (NAT) opened at 5.17 on Friday. Nordic American Tankers Limited has a 52 week low of $4.41 and a 52 week high of $9.87. The stock’s market cap is $527.18 million. The company has a 50-day moving average price of $5.32 and a 200-day moving average price of $6.17.

Nordic American Tankers Limited (NYSE:NAT) last announced its quarterly earnings data on Monday, August 7th. The shipping company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). The business had revenue of $39.10 million during the quarter, compared to the consensus estimate of $42.47 million. Nordic American Tankers Limited had a net margin of 0.06% and a return on equity of 0.25%. The business’s revenue was down 29.2% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. Equities analysts anticipate that Nordic American Tankers Limited will post ($0.45) EPS for the current year.

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A number of analysts have recently weighed in on NAT shares. Zacks Investment Research lowered Nordic American Tankers Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a “sell” rating and set a $5.00 price objective on shares of Nordic American Tankers Limited in a research note on Monday, July 17th. Evercore ISI lowered Nordic American Tankers Limited from an “in-line” rating to an “underperform” rating and dropped their price objective for the company from $6.00 to $5.00 in a research note on Friday, July 21st. Maxim Group set a $5.00 price target on Nordic American Tankers Limited and gave the stock a “sell” rating in a research note on Saturday, July 22nd. Finally, BidaskClub lowered Nordic American Tankers Limited from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.42.

About Nordic American Tankers Limited

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

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

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