DHT (NYSE:DHT) Hits New 1-Year High – Should You Buy?

DHT Holdings, Inc. (NYSE:DHT)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $14.32 and last traded at $14.2150, with a volume of 96996 shares traded. The stock had previously closed at $14.10.

Analysts Set New Price Targets

Several research firms have weighed in on DHT. Evercore ISI raised their price target on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Wall Street Zen downgraded shares of DHT from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. BTIG Research restated a “buy” rating and set a $16.00 target price on shares of DHT in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $16.00 price objective on shares of DHT in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

DHT Price Performance

The firm’s fifty day moving average is $12.87 and its 200 day moving average is $12.34. The company has a market capitalization of $2.30 billion, a P/E ratio of 11.55 and a beta of -0.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.02 and a current ratio of 2.41.

DHT (NYSE:DHT) last released its earnings results on Wednesday, October 29th. The shipping company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. DHT had a return on equity of 17.05% and a net margin of 41.17%.The firm had revenue of $107.35 million for the quarter, compared to analysts’ expectations of $78.83 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, analysts predict that DHT Holdings, Inc. will post 0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Roble Belko & Company Inc bought a new stake in DHT during the 2nd quarter valued at about $30,000. Federated Hermes Inc. increased its position in shares of DHT by 101.6% during the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after acquiring an additional 1,368 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of DHT by 190.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after acquiring an additional 1,982 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of DHT by 344.1% in the second quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 2,450 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,596 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors.

DHT Company Profile

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.