Wall Street Zen Upgrades DHT (NYSE:DHT) to Buy

DHT (NYSE:DHT) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently commented on DHT. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. BTIG Research lifted their price target on shares of DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Dnb Carnegie lowered shares of DHT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, DHT has a consensus rating of “Moderate Buy” and an average price target of $16.33.

DHT Price Performance

DHT stock opened at $17.24 on Friday. The firm has a market cap of $2.77 billion, a P/E ratio of 13.16 and a beta of -0.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.47 and a current ratio of 2.80. DHT has a 1 year low of $8.99 and a 1 year high of $20.55. The stock has a 50-day simple moving average of $15.98 and a 200-day simple moving average of $13.73.

DHT (NYSE:DHT) last released its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. DHT had a return on equity of 17.70% and a net margin of 42.35%.The firm had revenue of $117.80 million for the quarter, compared to analyst estimates of $116.96 million. During the same period in the previous year, the company posted $0.34 EPS. DHT’s revenue for the quarter was up 37.8% on a year-over-year basis. On average, equities analysts predict that DHT will post 0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DHT. MetLife Investment Management LLC increased its stake in shares of DHT by 1.4% during the fourth quarter. MetLife Investment Management LLC now owns 72,883 shares of the shipping company’s stock valued at $890,000 after acquiring an additional 994 shares during the period. Harbour Investments Inc. raised its holdings in DHT by 16.0% during the fourth quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company’s stock worth $88,000 after purchasing an additional 1,000 shares in the last quarter. Summit Financial LLC lifted its position in DHT by 0.9% in the fourth quarter. Summit Financial LLC now owns 119,438 shares of the shipping company’s stock worth $1,458,000 after purchasing an additional 1,111 shares during the period. First Trust Advisors LP lifted its position in DHT by 0.6% in the second quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock worth $1,918,000 after purchasing an additional 1,114 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in DHT by 4.9% during the 4th quarter. Corient Private Wealth LLC now owns 24,031 shares of the shipping company’s stock valued at $285,000 after purchasing an additional 1,122 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.