DHT (NYSE:DHT) Reaches New 52-Week High – Time to Buy?

DHT Holdings, Inc. (NYSE:DHT)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $14.32 and last traded at $14.2150, with a volume of 96996 shares. The stock had previously closed at $14.10.

Analyst Ratings Changes

A number of research firms recently issued reports on DHT. Wall Street Zen downgraded DHT from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. BTIG Research reissued a “buy” rating and set a $16.00 price target on shares of DHT in a research 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. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a report on Wednesday, January 21st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $16.00 target price on shares of DHT in a research note 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

DHT Stock Up 1.4%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.02 and a current ratio of 2.41. The firm has a fifty day simple moving average of $12.85 and a 200-day simple moving average of $12.31. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 11.50 and a beta of -0.07.

DHT (NYSE:DHT) last issued its quarterly earnings data on Wednesday, October 29th. The shipping company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. The company had revenue of $107.35 million for the quarter, compared to analyst estimates of $78.83 million. DHT had a net margin of 41.17% and a return on equity of 17.05%. The company’s revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. As a group, sell-side analysts expect that DHT Holdings, Inc. will post 0.94 EPS for the current year.

Hedge Funds Weigh In On DHT

Institutional investors and hedge funds have recently made changes to their positions in the company. Roble Belko & Company Inc acquired a new stake in DHT during the 2nd quarter worth approximately $30,000. Federated Hermes Inc. grew its holdings in DHT by 101.6% in the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,368 shares in the last quarter. PNC Financial Services Group Inc. increased its position in DHT by 190.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock worth $33,000 after buying an additional 1,982 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of DHT by 344.1% during the second 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 in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of DHT by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after buying an additional 1,596 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.