JPMorgan (NYSE:JPM) Downgrades General Maritime (NYSE:GMR), Frontline (NYSE:FRO), Overseas Shipholding (NYSE:OSG), Nordic American (NYSE:NAT)

The shipping industry has been under pressure lately, and in response, JPMorgan (NYSE:JPM) downgraded General Maritime (NYSE:GMR), Frontline (NYSE:FRO), Overseas Shipholding (NYSE:OSG), and Nordic American Tanker (NYSE:NAT).

JPMorgan did have one upgrade in the sector, DHT Holdings (NYSE:DHT), which they boosted from "Neutral" to "Overweight." DHT Holdings closed Friday at $4.98, up $0.08, or 1.63 percent. JPMorgan raised their price target on them from $5.50 to $6.50.

Nordic American Tanker (NAT) was downgraded from "Neutral" to "Underweight." They closed Friday at $24.46, down $1.18, or 4.60 percent. JPMorgan lowered their price target on them from $27 to $22

General Maritime (GMR) was downgraded from "Overweight" to "Neutral." They closed Friday at $2.98, falling 0.19, or 5.99 percent.

Frontline (FRO) was downgraded from "Overweight" to "Underweight." They closed at $24.93, down $0.68, or 2.66 percent. Their price target was cut from $34 to $23

Overseas Shipholding (OSG) was downgraded from "Overweight" to "Underweight." They closed Friday at $32.73, dropping $1.18, or 3.48 percent. JPMorgan cut their price on them from $41 to $29.