DHT (NYSE:DHT) Rating Lowered to Hold at Dnb Carnegie

DHT (NYSE:DHT) was downgraded by research analysts at Dnb Carnegie from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

DHT has been the topic of several other reports. Wall Street Zen lowered shares of DHT from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Finally, BTIG Research boosted their price target on shares of DHT from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.33.

DHT Price Performance

Shares of NYSE DHT opened at $18.62 on Tuesday. The business’s 50 day moving average price is $14.69 and its 200 day moving average price is $13.22. The firm has a market cap of $2.99 billion, a P/E ratio of 14.21 and a beta of -0.13. The company has a quick ratio of 2.47, a current ratio of 2.80 and a debt-to-equity ratio of 0.34. DHT has a 52 week low of $8.99 and a 52 week high of $20.55.

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 the consensus estimate of $0.40 by $0.01. The firm had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. The firm’s revenue was up 37.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. On average, sell-side analysts expect that DHT will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On DHT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of DHT by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,633,115 shares of the shipping company’s stock worth $127,067,000 after acquiring an additional 66,242 shares in the last quarter. American Century Companies Inc. increased its stake in DHT by 7.8% in the third quarter. American Century Companies Inc. now owns 5,280,063 shares of the shipping company’s stock valued at $63,097,000 after purchasing an additional 380,688 shares during the period. Victory Capital Management Inc. raised its stake in DHT by 1.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,008,679 shares of the shipping company’s stock valued at $36,736,000 after acquiring an additional 44,986 shares during the last quarter. Wasatch Advisors LP increased its stake in DHT by 11.9% in the 3rd quarter. Wasatch Advisors LP now owns 2,329,182 shares of the shipping company’s stock valued at $27,834,000 after buying an additional 248,620 shares during the period. Finally, State Street Corp increased its stake in shares of DHT by 0.8% during the fourth quarter. State Street Corp now owns 2,269,460 shares of the shipping company’s stock worth $27,710,000 after acquiring an additional 17,221 shares during the period. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.