Nordic American Tankers Limited (NAT) is a tanker firm that buys and charters double-hull tankers in Bermuda and across the world. It owns and operates 24 Suezmax crude oil tankers. Its shares have gained 18.9% year-to-date.
However, the stock is down 42.7% over the past year and 19.9% over the past month to close yesterday’s trading session at $2.01. Oil prices have soared back to levels seen during the early days of the Ukraine conflict, with little sight of major respite for drivers or companies in the near term. JPMorgan CEO Jamie Dimon believes oil prices will rise to $175 per barrel later this year.
