Nordic American Tankers Limited (NYSE:NAT) - Shortfall of Middle East oil supply. Some observations.
Nordic American Tankers Limited (NAT)
Last nordic american tankers limited earnings: 2/18 06:51 am
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Source: GlobeNewswire
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 comm
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News
- Retail investors account for 55% of Nordic American Tankers Limited's (NYSE:NAT) ownership, while institutions account for 41% [Yahoo! Finance]Yahoo! Finance
- Nordic American Tankers Limited (NYSE: NAT) had its price target lowered by analysts at Jefferies Financial Group Inc. from $4.00 to $3.50. They now have a "hold" rating on the stock.MarketBeat
- Nordic American Tankers Limited (NYSE: NAT) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Nordic American Tankers Limited (NYSE: NAT) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Nordic American Tankers Ltd (NYSE: NAT) – Result from US presidential election has no impact on NATGlobeNewswire
NAT
Earnings
- 8/30/24 - Beat
NAT
Sec Filings
- 10/31/24 - Form SC
- 9/30/24 - Form 6-K
- 9/23/24 - Form 6-K
- NAT's page on the SEC website