NAT Stock Recent News

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.

In the ever-evolving investment landscape, penny stocks to buy emerge as the thrill-seekers' darlings. Known for their high-risk, high-reward nature, these stocks attract investors with their low share prices and the promise of substantial gains.

Looking at the S&P 500 price-to-earnings and price/earning-to-growth ratio, it can be said that the broad markets are not expensive. This does not come as a surprise with tight monetary policies impacting stock valuation.

Nordic American Tanker Shipping (NYSE:NAT) has increased its second-quarter dividend by 10 cents after it reported a strong rise in earnings for the first half of its 2023 financial year. The NYSE-listed shipping company, which maintains a Suezmax-only fleet of tankers, reported a swing of more than $100 million in net income for the first six months, to $73.7 million from a $30.9 million loss in the first half of 2022.

The sell-off in the broader stock indexes such as the S&P 500 and the Nasdaq has led to the rise of penny stocks to buy. True, it's tempting to buy high-performing momentum stocks.