NEW YORK (TheStreet) -- Shares of Nordic American Tanker LTD (NAT) are up 1.18% to $9.40 after Jefferies (JEF) said the Commerce Department's decision to allow exports of condensate, a slightly refined energy product, are a positive thing for companies that ship oil in the near term.
"Even though we believe the condensate export volumes are likely to be limited, any increase in export volumes should have a net positive impact on the crude oil tanker market, even if minimal," Jefferies said.
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TheStreet Ratings team rates NORDIC AMERICAN TANKERS LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NORDIC AMERICAN TANKERS LTD (NAT) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."