DHT (NYSE:DHT) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of DHT (NYSE:DHT) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Other analysts have also issued reports about the stock. BTIG Research upped their price objective on shares of DHT from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Dnb Carnegie lowered shares of DHT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research note on Monday, April 20th. Finally, Evercore lowered shares of DHT from an “outperform” rating to an “in-line” rating and set a $19.00 price objective for the company. in a research note on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.33.

DHT Stock Down 0.2%

Shares of DHT opened at $18.98 on Friday. The firm has a market capitalization of $3.06 billion, a P/E ratio of 9.21 and a beta of -0.08. DHT has a 12-month low of $10.61 and a 12-month high of $20.55. The company has a current ratio of 1.83, a quick ratio of 2.47 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $18.15 and a 200-day moving average price of $15.11.

DHT (NYSE:DHT) last issued its earnings results on Tuesday, May 5th. The shipping company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. DHT had a net margin of 58.54% and a return on equity of 27.54%. The firm had revenue of $157.20 million during the quarter, compared to analyst estimates of $152.15 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 134.9% on a year-over-year basis.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st will be issued a $0.64 dividend. This is a boost from DHT’s previous quarterly dividend of $0.41. This represents a $2.56 dividend on an annualized basis and a yield of 13.5%. The ex-dividend date is Thursday, May 21st. DHT’s dividend payout ratio is presently 79.61%.

Hedge Funds Weigh In On DHT

A number of large investors have recently added to or reduced their stakes in DHT. Federated Hermes Inc. raised its holdings in DHT by 101.6% in the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,368 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in DHT by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in DHT by 568.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after purchasing an additional 3,022 shares in the last quarter. Fifth Third Bancorp raised its holdings in DHT by 96.5% in the third quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock worth $50,000 after purchasing an additional 2,042 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in DHT in the fourth quarter worth about $58,000. 58.53% of the stock is currently owned by institutional investors.

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.