Nordic American Tankers (NAT)
Owns and charters a Suezmax-only fleet for international crude-oil transportation.
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Owns and charters a homogeneous Suezmax fleet that carries crude oil across international markets. Revenue comes from spot voyages and shorter-term time charters, with dividend capacity tied to tanker rates, vessel operations, financing access, and fleet renewal needs.
Owns, operates, and charters Suezmax crude-oil tankers through a single operating segment: ocean transportation of crude oil in international markets. Service lines are spot voyage charters, shorter-term time charters, and Suezmax transportation capacity rather than branded products.
Keeps the fleet homogeneous and interchangeable, which the company links to maintenance, operating, and administrative efficiency. Customers are large international oil companies, oil traders, and independent oil companies across Western and Eastern markets.
Depends on spot tanker rates, charter demand, vessel location, vessel condition, financing access, and credit-facility limits. Dividend capacity and fleet renewal move with those operating and capital constraints.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Apr 22, 2026 | Evercore ISI Group | Downgrade | ||
| Oct 28, 2025 | Evercore ISI | Target | Target: $4 | Target: $3 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $133.3M · Total debt $406.6M · Total assets $917.5M · Shareholders' equity $477.6M
- Revenue
- $104.7M
- Operating income
- $41.2M
- Net income
- $68.3M
HistoryDividendAnnual yield
| Institutions | ≈ 55.71% | 117.96M ADS | |
|---|---|---|---|
| 289 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 2.90% | 6.15M ADS | |
| 3 holders · as of Jun 25, 2026 | |||
| Other | ≈ 41.39% | 87.65M ADS | |
| remainder | |||
211.75M ADS as of Sep 12, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 6.03% | 12.76M ADS | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 5.74% | 12.15M ADS | as of Jun 30, 2026 |
Ameriprise Financial IncInstitution | 4.67% | 9.88M ADS | as of Jun 30, 2026 |
Morgan StanleyInstitution | 4.47% | 9.47M ADS | as of Jun 30, 2026 |
Goldman Sachs Group IncInstitution | 4.27% | 9.04M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Teekay Tankers
Direct Suezmax and Aframax/LR2 peer in crude spot markets
- Frontline
Large Suezmax/VLCC fleet with global crude charter overlap
- International Seaways
Crude and product tanker operator with a 13-vessel Suezmax fleet
- CMB.TECH (ADR)
Diversified maritime group with Euronav crude-tanker overlap
- Tsakos Energy Navigation
Diversified tanker operator with Suezmax and Aframax exposure
- Okeanis Eco Tankers (ADR)
Modern Suezmax/VLCC fleet focused on spot and short-term trading
- DHT
VLCC-only crude tanker peer in adjacent long-haul markets
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nordic American Tankers | $7.72 | −3.56% | $1.69B | 13.7 | 9.8 | 4.6 | +18.8% |
| Teekay Tankers | $95.91 | −2.89% | $3.42B | 5.8 | 6.3 | 3.0 | +10.9% |
| Frontline | $48.61 | −2.42% | $11.09B | 7.5 | 6.2 | 4.1 | +166.2% |
| International Seaways | $105.38 | −3.41% | $5.40B | 7.0 | 8.7 | 4.3 | +121.9% |
| CMB.TECH (ADR) | $19.46 | −1.02% | $5.70B | 6.8 | 8.5 | 2.5 | +78.0% |
| Tsakos Energy Navigation | $49.63 | −2.53% | $1.53B | 5.2 | 6.0 | 1.6 | +27.4% |
| Okeanis Eco Tankers (ADR) | $78.11 | −5.47% | $2.70B | 7.7 | 6.1 | 3.8 | +185.4% |
| DHT | $21.75 | −3.11% | $3.62B | 7.6 | 6.5 | 5.0 | +174.7% |
| Median | 7.0 | 6.3 | 3.8 | +121.9% |