DHT (NYSE:DHT) Cut to “Hold” at Wall Street Zen

DHT (NYSE:DHT) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other research firms also recently commented on DHT. Jefferies Financial Group reissued a “buy” rating and issued a $16.00 price objective on shares of DHT in a report on Thursday, October 30th. Evercore ISI boosted their price target on DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. BTIG Research reaffirmed a “buy” rating and set a $16.00 price target on shares of DHT in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a report on Wednesday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.67.

DHT Stock Performance

Shares of DHT stock opened at $13.82 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.41 and a quick ratio of 2.02. DHT has a one year low of $8.99 and a one year high of $13.93. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 11.14 and a beta of -0.07. The stock’s 50-day moving average is $12.83 and its 200-day moving average is $12.24.

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

Institutional Trading of DHT

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Roble Belko & Company Inc bought a new stake in DHT in the second quarter valued at approximately $30,000. Federated Hermes Inc. raised its holdings in shares of DHT by 101.6% in the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,368 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of DHT by 344.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock worth $34,000 after buying an additional 2,450 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of DHT by 91.8% in the 2nd 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 during the period. 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.