DHT (NYSE:DHT) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of DHT (NYSE:DHT) from a hold rating to a buy rating in a report issued on Saturday.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research report on Wednesday, October 8th. Evercore ISI increased their target price on shares of DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $16.00 price target on shares of DHT in a report on Thursday, October 30th. Finally, BTIG Research reiterated a “buy” rating and set a $16.00 price objective on shares of DHT in a research report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, DHT currently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

DHT Price Performance

Shares of NYSE:DHT opened at $13.27 on Friday. The firm has a 50 day moving average of $12.84 and a 200-day moving average of $12.16. DHT has a 12 month low of $8.99 and a 12 month high of $13.90. The company has a current ratio of 2.41, a quick ratio of 2.02 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $2.13 billion, a PE ratio of 10.70 and a beta of -0.07.

DHT (NYSE:DHT) last announced its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $78.83 million. During the same period in the previous year, the business earned $0.22 earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts predict that DHT will post 0.94 EPS for the current fiscal year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Wednesday, November 12th. DHT’s payout ratio is presently 58.06%.

Institutional Trading of DHT

Several institutional investors have recently added to or reduced their stakes in the stock. Bailard Inc. acquired a new stake in shares of DHT during the 2nd quarter worth approximately $623,000. American Century Companies Inc. boosted its stake in DHT by 11.2% during the second quarter. American Century Companies Inc. now owns 4,899,375 shares of the shipping company’s stock worth $52,962,000 after acquiring an additional 491,717 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in DHT in the second quarter worth $463,000. Dynamic Technology Lab Private Ltd acquired a new stake in DHT in the second quarter worth $329,000. Finally, Inspire Investing LLC increased its stake in DHT by 2.6% in the second quarter. Inspire Investing LLC now owns 71,262 shares of the shipping company’s stock valued at $770,000 after purchasing an additional 1,818 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors.

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.