NAT Stock Recent News

If we look at energy stocks with focus on the oil & gas sector, the last 12 months have been disappointing in terms of returns. Macroeconomic headwinds have ensured that energy prices remain relatively subdued.

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Brent oil price has touched $90, which has caused escalating geopolitical tensions in the Middle East. Of course, it's not the only factor for oil trending higher.

The crude tanker market remains strong due to limited supply and growing tonne-mile demand for crude oil transportation. FY23 NAT realized $262 million net voyage revenue, $127 million net operating income, and $98.7 million net income. The impressive results are due to improved TCE rates and stable OPEX. NAT has a 56% total debt-to-equity ratio and 38.8% total liabilities to total assets. The company has $31.1 million cash and $301 million total debt.

Crude oil recently hit a four-month high, with the International Energy Agency expecting a supply deficit through 2024. That view is based on the premise that OPEC maintains production cuts.

Nordic American Tankers: Suezmax Pure Play For Income-Minded Investors

While Nordic American Tankers reported seasonally weaker Q3 results, the company is expected to have finished 2023 on a high note. Q1 results could be even stronger with the addition of another Suezmax tanker and increased spot market exposure. With the Houthi attacks on vessels in the Red Sea unlikely to stop anytime soon, current tailwinds might continue into the seasonally weaker second and third quarters.

Herbjorn Hansson, Nordic American Tankers CEO, joins 'Closing Bell Overtime' to discuss rising risks in the Red Sea for shipping.

The year has been a mixed bag for undervalued penny stocks as investors continue to remain cautious. I believe that even 2024 will be a year of careful stock selection than a broad-based rally across sectors and stocks.