StockNews.com Upgrades DHT (NYSE:DHT) to Hold

DHT (NYSE:DHT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

DHT has been the subject of a number of other research reports. BTIG Research assumed coverage on DHT in a research report on Tuesday, October 15th. They set a “buy” rating and a $16.00 target price for the company. Stifel Nicolaus cut their price objective on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $14.00 target price on shares of DHT in a report on Wednesday. Finally, Fearnley Fonds upgraded DHT to a “strong-buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Price Performance

NYSE:DHT traded up $0.10 during mid-day trading on Thursday, reaching $10.80. 1,864,017 shares of the stock were exchanged, compared to its average volume of 1,829,561. The firm has a market capitalization of $1.74 billion, a PE ratio of 10.80 and a beta of -0.36. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average price of $10.92 and a 200 day moving average price of $11.28. DHT has a 1-year low of $9.28 and a 1-year high of $12.80.

DHT (NYSE:DHT) last released its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $92.64 million for the quarter, compared to the consensus estimate of $87.51 million. DHT had a net margin of 27.72% and a return on equity of 15.57%. DHT’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. Research analysts expect that DHT will post 1.02 earnings per share for the current fiscal year.

Institutional Trading of DHT

Several institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP purchased a new stake in DHT in the 3rd quarter worth approximately $55,472,000. FMR LLC boosted its position in DHT by 10.0% during the third quarter. FMR LLC now owns 24,193,014 shares of the shipping company’s stock valued at $266,849,000 after purchasing an additional 2,195,916 shares in the last quarter. M&G Plc purchased a new stake in DHT in the first quarter valued at about $16,417,000. Acadian Asset Management LLC lifted its stake in DHT by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after acquiring an additional 1,032,832 shares during the period. Finally, American Century Companies Inc. grew its holdings in DHT by 43.8% during the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after acquiring an additional 873,356 shares during the period. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.