NAT - Nordic American Tankers Limited

NYSE - NYSE Delayed price. Currency in USD
2.0000
-0.0200 (-0.99%)
At close: 4:04PM EDT

2.0000 0.00 (0.00%)
After hours: 4:19PM EDT

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Previous close2.0200
Open2.0100
Bid1.9100 x 4000
Ask2.0400 x 1800
Day's range1.9600 - 2.0300
52-week range1.6600 - 3.4700
Volume612,235
Avg. volume992,132
Market cap283.94M
Beta (3Y monthly)0.87
PE ratio (TTM)N/A
EPS (TTM)-0.4070
Earnings date11 Nov 2019 - 15 Nov 2019
Forward dividend & yield0.04 (1.98%)
Ex-dividend date2019-08-29
1y target est4.67
Trade prices are not sourced from all markets
  • Globe Newswire

    Nordic American Tankers Limited (NYSE:NAT) - Shortfall of Middle East oil supply. Some observations.

    Hamilton, Bermuda, September 16, 2019 We have assessed the situation following the attack on Saudi oil installations at the end of last week. About 50 % of Saudi oil production has been impacted.  This is about 5-6 mill barrels a day which need to be sourced from elsewhere. This is more than 5 % of world oil consumption.  An analyst of Arctic, a Norwegian based investment banking and securities firm, writes as follows this weekend:“This is a bullish turn for the tanker market - period. Forget talk of lower Middle East flows depressing tanker demand. We believe refinery purchasing managers now are thinking inventory building and security of supply. Oil will be harder to come by and will have to travel farther from US, Brazil and Russia and elsewhere.   In such a scenario, the opportunity cost of being uncovered on transport is bound to rise, hence pushing rates higher and available tonnage lower.”There are many observers having a view on the matter at hand.  A common denominator, which is also our experience, is that political uncertainty of this nature is normally good for the market.  We believe that the short term impact will be positive – as the amount of transportation work – so called tonne- mile – can be expected to increase. The shortfall of oil exportation from the Middle East to the Far East can be expected to be taken up by exports from suppliers further away such the US, Brazil, the North Sea, West Africa and other locations.  This is positive for our uniform suezmax fleet.In our group, we have experts who have been involved in the tanker industry and economics for several decades without claiming to know the “truth” in all respects.However, it remains a fact that what we have seen is a very important development that will probably affect our industry – as far as we can see – positively.    Supply and demand are always decisive. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTSMatters discussed in this press release may constitute forward-looking statements.  The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intend," "estimate," "forecast," "project," "plan," "potential," "will," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties.  Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.  We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.Contacts:    Gary J. Wolfe Seward & Kissel LLP New York, USA Tel: +1 212 574 1223    Bjørn Giæver, CFO Nordic American Tankers Limited Tel: +1 888 755 8391 or +47 91 35 00 91    Herbjørn Hansson, Chairman & CEO Nordic American Tankers Limited Tel: +1 866 805 9504 or +47 90 14 62 91  Attachment * Nordic American Tankers Limited. September 16, 2019

  • What Kind Of Shareholders Own Nordic American Tankers Limited (NYSE:NAT)?
    Simply Wall St.

    What Kind Of Shareholders Own Nordic American Tankers Limited (NYSE:NAT)?

    The big shareholder groups in Nordic American Tankers Limited (NYSE:NAT) have power over the company. Large companies...

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - Scrubbers - Main features of our policy.

    Nordic American Tankers Ltd (NYSE: NAT or the "Company") communicated its view on the new Sulphur requirements, effective from 2020 in our Press Release October 24, 2017 and in a NAT conference call held February 20, 2019. The Company is steadfast on its decision that scrubbers are not a solution for NAT based upon a conservative financial policy. An increased number of ports now prohibit or impose strict requirements on the use of scrubbers, which purify emissions from large ships.

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - 2018 Annual report on Form 20-F

    Nordic American Tankers Limited (NAT), would like to inform that its 2018 Annual Report on Form 20-F has been filed with the United States Securities and Exchange Commission is available for download on the SEC website at www.sec.gov.  The Annual Report on Form 20-F includes the Company`s complete 2018 audited financial statements and is available for download on the Company`s website at www.nat.bm.  A shareholder may receive a hard copy of the Company`s complete 2018 Annual Report on Form 20-F, free of charge upon request. Matters discussed in this press release may constitute forward-looking statements.  The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business.

  • Why Nordic American Tankers' Shares Popped 12.7% Today
    Motley Fool

    Why Nordic American Tankers' Shares Popped 12.7% Today

    Could an attack on a tanker be good for tanker stocks?

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - A busy period and good prospects.

    The last 12 months have been the busiest period for Nordic American Tankers ever. Sale of 10 suezmax vessels and delivery of 3 new suezmax units took place in the last six months of 2018 and ensured a renewal of our fleet which count suezmaxes only. Recent contracts for 3Q2019 loading confirm this, showing a clear strengthening trend for our vessels.  We must remember that political unrest is often good for the tanker market.  We now see increased oil exports from the US, which is a new trend.

  • GlobeNewswire

    Nordic American Tankers Limited (NYSE:NAT) - has fixed a one year or more time charter (TC) for one of the NAT suezmax vessels.

    Over the years, NAT has bought several vessels built at Samsung Shipyard in South Korea, including the Nordic Zenith. The vessels of NAT consist of suezmaxes.  The NAT fleet is trading all over the world.  The contract has a value between USD 9 mill and USD 11 mill depending upon the detailed scheduling of the vessel. Going forward, we sense a strong upward trend for the tanker industry.  NAT is in a positive phase of development. Historically, all contracts of the tanker industry and of the NAT fleet (now 23 vessels), over a certain length, as a standard need the approval of the technical management arrangement associated with all our contracts.

  • Why Nordic American Tankers Shares Popped 12.5% Today
    Motley Fool

    Why Nordic American Tankers Shares Popped 12.5% Today

    Tankers have been a great energy play this week.

  • Why North American Tankers Stock Surged 17% This Morning
    Motley Fool

    Why North American Tankers Stock Surged 17% This Morning

    Tanker dayrates hit $26,025 -- still below the average for the last 25 years.

  • Associated Press

    Nordic American Tankers: 1Q Earnings Snapshot

    The Hamilton, Bermuda-based company said it had profit of 4 cents per share. The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was ...

  • GlobeNewswire

    Nordic American Tankers (NYSE: NAT) - The 1st Quarter 2019 report - Refinancing finalized. Strong start to a promising year.

    With this report we announce our 87th consecutive quarterly distribution. It is our objective to increase the dividend as tanker markets improve. the TCE (time charter equivalent) for our vessels in 1Q2019 saw an improvement of 30% from the previous quarter and came in at an average of $26,025 per day per ship compared to $20,100 in 4Q2018.

  • Nordic American Tankers (NAT) May Report Negative Earnings: Know the Trend Ahead of Q1 Release
    Zacks

    Nordic American Tankers (NAT) May Report Negative Earnings: Know the Trend Ahead of Q1 Release

    Nordic American Tankers (NAT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - NAT announces ATM agreement - REVISED

    Nordic American Tankers Limited (NAT) has entered into an At-The-Market Issuance Agreement ("ATM") dated March 29, 2019, with the investment banking firm, B. Riley FBR, Inc., as the sales agent. Under the ATM and over a period of about 3 years, NAT may, at its discretion during the term of the ATM, sell up to a maximum of $40 million of common shares of NAT. The ATM sales, if any, will be made at market prices.  It is not an obligation for NAT to sell any shares under the ATM.  The establishment of the ATM is in harmony with the conservative financial policy of NAT and provide a tool for NAT to ensure that we have the financial flexibility at all times.

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - NAT announces ATM agreement

    Nordic American Tankers Limited (NAT) has entered into an At-The-Market Agreement ("ATM") dated March 29, 2019, with the Investment Bank B. Riley FBR, Inc. Matters discussed in this press release may constitute forward-looking statements.  The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

  • Nordic American Tankers Ltd (NYSE: NAT) - Comments on Scrubbers
    GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - Comments on Scrubbers

    The Company is steadfast on its decision that scrubbers are not a solution for NAT based upon a conservative financial policy. An increased number of ports now prohibit or impose strict requirements on the use of scrubbers, which purify emissions from large ships. The scrubber cleans the exhaust from vessels for Sulphur and emit impure water into the sea, and that is what the ports now will put an end to.  Therefore, we still do not see that this new requirement is an issue for NAT.

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - Transcript of investor Conference received. A strong balance sheet and low or zero debt are important priorities.

    Matters discussed in this press release may constitute forward-looking statements.  The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation.

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - The Hansson family buys more stock in NAT.

    Bermuda March 7, 2019 Alexander Hansson, residing in Monaco, has today bought 25,000 shares in NAT for his private holdings. The shares were purchased in the open market at a price of $2.04 per share.  ...

  • Reuters - UK Focus

    EU mergers and takeovers (March 4)

    The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Cayman Island-based private equity firm Clayton, Dubilier & Rice ...

  • Reuters - UK Focus

    EU mergers and takeovers (Feb 26)

    The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- German utility RWE to acquire E.ON's networks and renewables unit ...

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - Hansson family buys stock in NAT.

    Bermuda February 26, 2019 Alexander Hansson, residing in Monaco, has today bought privately 50,000 shares in NAT at a price of $2.27.  Yesterday, he bought 100,000 shares at $2,31.  Alexander Hansson is ...

  • GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) - High turnout at our Telephone Conference for Shareholders/ Investors, Wednesday February 20, 2019.

    Bermuda February 22, 2019 The investor call Wednesday February 20, was well attended. About 300 shareholders/investors. This is a high turnout; 43 % of shareholders/investors joined from USA, 36% in total ...

  • Associated Press

    Nordic American Tankers: 4Q Earnings Snapshot

    On a per-share basis, the Hamilton, Bermuda-based company said it had a loss of 7 cents. Losses, adjusted for non-recurring costs, came to 5 cents per share. The results fell short of Wall Street expectations. ...

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