DHT (NYSE:DHT) Price Target Raised to $23.00 at BTIG Research

DHT (NYSE:DHT) had its price target boosted by BTIG Research from $18.00 to $23.00 in a research report released on Wednesday,Benzinga reports. BTIG Research currently has a buy rating on the shipping company’s stock.

A number of other brokerages also recently issued reports on DHT. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research note on Monday. Wall Street Zen raised DHT from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Dnb Carnegie downgraded DHT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Evercore downgraded DHT from an “outperform” rating to an “in-line” rating and set a $19.00 target price for the company. in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

DHT Stock Down 1.4%

DHT stock opened at $17.74 on Wednesday. DHT has a twelve month low of $9.94 and a twelve month high of $20.55. The stock has a 50 day moving average of $17.84 and a two-hundred day moving average of $14.66. The company has a current ratio of 2.80, a quick ratio of 2.47 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 13.54 and a beta of -0.09.

DHT (NYSE:DHT) last issued its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $117.85 million during the quarter, compared to the consensus estimate of $116.96 million. DHT had a return on equity of 17.70% and a net margin of 42.35%.The company’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 19th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend was Thursday, February 19th. This is an increase from DHT’s previous quarterly dividend of $0.18. DHT’s dividend payout ratio (DPR) is 125.19%.

Hedge Funds Weigh In On DHT

Several hedge funds have recently bought and sold shares of the company. Baron Wealth Management LLC increased its stake in DHT by 4.2% in the 1st quarter. Baron Wealth Management LLC now owns 14,750 shares of the shipping company’s stock valued at $269,000 after purchasing an additional 592 shares in the last quarter. MetLife Investment Management LLC increased its stake in DHT by 1.4% in the 4th quarter. MetLife Investment Management LLC now owns 72,883 shares of the shipping company’s stock valued at $890,000 after purchasing an additional 994 shares in the last quarter. Harbour Investments Inc. increased its stake in DHT by 16.0% in the 4th quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company’s stock valued at $88,000 after purchasing an additional 1,000 shares in the last quarter. Summit Financial LLC increased its stake in DHT by 0.9% in the 4th quarter. Summit Financial LLC now owns 119,438 shares of the shipping company’s stock valued at $1,458,000 after purchasing an additional 1,111 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in DHT by 0.6% in the 2nd quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock valued at $1,918,000 after purchasing an additional 1,114 shares in the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

About DHT

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.