DHT (NYSE:DHT) Raised to Buy at Wall Street Zen

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

A number of other analysts have also recently commented on DHT. BTIG Research upped their target price on shares of DHT from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research note on Wednesday, January 21st. Finally, Dnb Carnegie downgraded shares of DHT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.33.

DHT Trading Down 3.5%

Shares of NYSE:DHT opened at $17.24 on Friday. The stock’s 50-day simple moving average is $15.98 and its two-hundred day simple moving average is $13.76. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 13.16 and a beta of -0.13. DHT has a 52-week low of $8.99 and a 52-week high of $20.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.47 and a current ratio of 2.80.

DHT (NYSE:DHT) last released its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. The firm had revenue of $117.80 million during the quarter, compared to analyst estimates of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. Analysts expect that DHT will post 0.94 EPS for the current year.

Institutional Investors Weigh In On DHT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHT. MetLife Investment Management LLC boosted its position in shares of DHT by 1.4% in the fourth quarter. MetLife Investment Management LLC now owns 72,883 shares of the shipping company’s stock worth $890,000 after purchasing an additional 994 shares during the period. Harbour Investments Inc. raised its position in shares of DHT by 16.0% during the 4th quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company’s stock valued at $88,000 after purchasing an additional 1,000 shares during the period. Summit Financial LLC lifted its stake in shares of DHT by 0.9% during the 4th quarter. Summit Financial LLC now owns 119,438 shares of the shipping company’s stock valued at $1,458,000 after buying an additional 1,111 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of DHT by 0.6% during the 2nd quarter. First Trust Advisors LP now owns 177,393 shares of the shipping company’s stock valued at $1,918,000 after buying an additional 1,114 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in DHT by 4.9% in the 4th quarter. Corient Private Wealth LLC now owns 24,031 shares of the shipping company’s stock worth $285,000 after buying an additional 1,122 shares during the period. Institutional investors 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.