NAT - Nordic American Tankers Limited

NYSE - NYSE Delayed price. Currency in USD
4.3500
-0.0500 (-1.14%)
At close: 4:00PM EDT
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Previous close4.4000
Open4.4600
Bid0.0000 x 3000
Ask4.5000 x 1100
Day's range4.2500 - 4.5650
52-week range1.6600 - 9.0000
Volume6,353,858
Avg. volume11,839,453
Market cap640.455M
Beta (5Y monthly)0.46
PE ratio (TTM)26.52
EPS (TTM)0.1640
Earnings date14 Aug 2020 - 18 Aug 2020
Forward dividend & yield0.56 (12.73%)
Ex-dividend date22 May 2020
1y target est6.25
  • Globe Newswire

    Nordic American Tankers Ltd. (NYSE: NAT) – Purchase of shares by the NAT Chairman & CEO

    July 2, 2020Dear Shareholders and Investors,Mr Herbjorn Hansson has today bought 50,000 shares in NAT at $4.08 per share. Best regards, Herbjorn Hansson Founder, Chairman & CEONordic American Tankers Ltd.                                                           www.nat.bm    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.NAT is a Bermuda based company.Contacts:       Gary J. Wolfe Seward & Kissel LLP New York, USA Tel: +1 212 574 1223Bjørn 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

  • Globe Newswire

    Nordic American Tankers Limited (NYSE: NAT) – Potential US sanctions involving tankers trading on Iran & Venezuela

    July 2, 2020Dear Shareholders and Investors, We receive questions about potential US sanctions involving tankers trading on Iran & Venezuela. What would this mean for NAT?Earlier this week there was an article in the international press, to the effect that the US Treasury is considering to expand its list of tankers under sanctions from 80 to 130 vessels. If implemented, such a level of tonnage restrictions has the potential of tightening the balance between supply and demand of tankers.As we mentioned in our press release of June 18, NAT is always complying with sanctions imposed by the US in all parts of the world. Best regards, Herbjørn Hansson Founder, Chairman & CEONordic American Tankers Ltd.                                                           www.nat.bm     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.NAT is a Bermuda based company. Contacts:       Gary J. Wolfe Seward & Kissel LLP New York, USA Tel: +1 212 574 1223Bjørn 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

  • Globe Newswire

    Nordic American Tankers Ltd. (NYSE: NAT) – Purchase of shares by NAT board member

    June 24, 2020Dear Shareholders and Investors, Mr Alexander Hansson has today bought 50,000 shares in NAT at $4.11. Alexander Hansson is a Director of the board of NAT. He is son of Herbjørn Hansson, NAT Chairman & CEO. Best regards, Herbjørn Hansson Founder, Chairman & CEONordic American Tankers Ltd.                                                           www.nat.bm    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.NAT is a Bermuda based company. Contacts:       Gary J. Wolfe Seward & Kissel LLP New York, USA Tel: +1 212 574 1223Bjørn 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

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  • Globe Newswire

    Nordic American Tankers Ltd. (NYSE: NAT) – A tanker market update in a changing world

    June 18, 2020Dear Shareholders and Investors, We regularly comment on geopolitical events with relevance to NAT. Such events include trade negotiations between China and the US, OPEC-actions, Covid-19 pandemic, Middle East tensions and sanctions impacting jurisdictions where the NAT vessels are operating.The above elements have taken place during the last few months. Changes of this nature are elements we often meet. For NAT it is important to note that the underlying balance between supply and demand for ships is good. The limited supply of new tankers has been the foundation and a driving force that has made it possible for tanker owners to benefit from these events. We at NAT see a positive development for the remainder of 2020 and for 2021.  Our confidence is supported by the dividend for the first quarter of 2020 ($0.14) and for the second quarter of 2020 ($0.20). The dividend for the fourth quarter in 2019 was ($0.07). Our dividend has always been a reflection of our cashflow. At a time when other companies are cutting back their dividend distribution, it is important for us to emphasize that dividend remains a priority for NAT. Please note that the Venezuela situation has resurfaced. NAT is always complying with sanctions imposed by the US.   Meanwhile, China and other Asian economies seem to be recovering. Combined with international stimulus packages and a low oil price, we see the recovery of the world economy sooner rather than later. The tanker market turned in a positive direction long time ago. Best regards,Herbjørn Hansson Founder, Chairman & CEONordic American Tankers Ltd.                                                           www.nat.bm       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.NAT is a Bermuda based company. Contacts:       Gary J. Wolfe Seward & Kissel LLP New York, USA Tel: +1 212 574 1223Bjørn 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    *

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  • Globe Newswire

    Nordic American Tankers Ltd. (NYSE: NAT) – Dividend declaration for the second quarter of 2020

    May 20, 2020Dear Shareholders and Investors, Dividend is a priority for NAT. On March 24, 2020, we declared the dividend for the first quarter of 2020 to 14 cents ($0.14) per share, with record date Monday May 26, 2020 and payment date June 5, 2020. In view of the solid position of the company and the prospects as explained in our first quarter report of 2020 two days ago (May 18), the Board has today decided to declare the dividend for the second quarter of 2020 to 20 cents ($0.20) to be paid on Friday September 4th 2020 to shareholders on record Friday August 28th. This is a 42% increase from the dividend that was declared for the first quarter of 2020.With this quarterly dividend of 20 cents for the second quarter of 2020, the accumulated declared cash dividend for the first two quarters of 2020 is 34 cents ($0.34) per share. This amount of 34 cents is paid to shareholders over a period of less than 4 months. Our earnings report for the second quarter of 2020 will be published Monday August 17, 2020 before NYSE opening.  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.NAT is a Bermuda based company.Contacts:        Gary J. Wolfe Seward & Kissel LLP New York, USA Tel: +1 212 574 1223Bjørn 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

  • Nordic American Tankers (NAT) Tops Q1 Earnings and Revenue Estimates
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    Nordic American Tankers (NAT) Tops Q1 Earnings and Revenue Estimates

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  • Globe Newswire

    Nordic American Tankers Ltd. (NYSE: NAT) – Report for the first quarter 2020 – First quarter net operating earnings beat the full year 2019.

    May 18, 2020 Dear Shareholders and Investors, It is normal in the tanker business to meet with disruptions and unexpected events. We capitalize on such disruptions, which we expect will take place in the future too. Prospects for 2020/2021 are promising. Highlights:      1. Our net profit for 1Q2020 improved from last quarter (4Q2019) and came in at $39.5 million against a net profit of $12.7 million for 4Q2019 and a net profit of $5.6 million in 1Q2019.  1. EBITDA for the first quarter 2020 (non-GAAP measure) in NAT was $64.9 million. This is a 72% increase from the previous quarter (4Q2019) which generated an EBITDA of $37.7 million. EBITDA is an expression of the cash generated from our operations. 2. Returning profits to our shareholders through cash dividends is a priority for NAT. On March 24, 2020, we announced our 91st consecutive quarterly dividend. The dividend for the first quarter of 2020 is 14 cents ($0.14) per share, payable on June 5, 2020, to shareholders of record May 26, 2020. This is double the dividend paid in the previous quarter (4Q2019). 3. The average Time Charter Equivalent (TCE) achieved for the first quarter of 2020 across our fleet was $44,100 per day per ship, up almost 40% from $31,700 per day per ship in the previous quarter (4Q2019). So far in the second quarter of 2020, about 75% of the trading days of our fleet have been booked at an average TCE of about $50,000 per day per ship. This is an encouraging signal for dividend payments for 2Q2020. Our operating costs are about $8,000 per day per ship.  4. Muted supply of ships creates a base for a solid future of the tanker industry.  The world economies are gradually reopening, and especially Asian economies are showing encouraging improvements. This bodes well for the tanker markets in the second half of 2020 and the full year 2021. At the end of 1Q2020 NAT is in the best position ever. 5. The quality of the NAT fleet is first rate, reflected in the vetting record of our ships. Vetting is the assessment of oil companies to establish the technical and operational quality of our fleet. NAT has 23 suezmax vessels. 6. Detailed financial information for 1Q2020 and for other periods is included later in this report. 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.NAT is a Bermuda based company.  Contacts:         Gary J. Wolfe Seward & Kissel LLP New York, USA Tel: +1 212 574 1223Bjørn 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 * NAT 1Q2020 report

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