DHT (NYSE:DHT) Rating Lowered to In-Line at Evercore

DHT (NYSE:DHT) was downgraded by equities research analysts at Evercore from an “outperform” rating to an “in-line” rating in a report issued on Wednesday, MarketBeat.com reports. They presently have a $19.00 price objective on the shipping company’s stock. Evercore’s price target indicates a potential upside of 6.85% from the company’s previous close.

A number of other analysts have also recently weighed in on DHT. BTIG Research increased their price target on DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Wall Street Zen upgraded DHT from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research report on Monday. Finally, Dnb Carnegie cut DHT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.33.

DHT Stock Up 0.2%

Shares of DHT stock opened at $17.78 on Wednesday. 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 business’s 50 day simple moving average is $17.89 and its 200-day simple moving average is $14.68. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 13.57 and a beta of -0.09. DHT has a twelve month low of $10.20 and a twelve month high of $20.55.

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

Institutional Trading of DHT

Several large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in DHT by 358.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 61,232 shares of the shipping company’s stock valued at $1,119,000 after acquiring an additional 47,881 shares during the period. Baron Wealth Management LLC increased its position 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 acquiring an additional 592 shares during the period. Caitong International Asset Management Co. Ltd increased its position in DHT by 568.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 3,022 shares during the period. Virtu Financial LLC acquired a new stake in DHT in the 4th quarter valued at approximately $714,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of DHT during the 4th quarter valued at $369,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

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.