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

DHT Price Performance

NYSE:DHT opened at $17.24 on Friday. The company has a quick ratio of 2.47, a current ratio of 2.80 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $15.98 and its 200 day moving average price is $13.73. DHT has a 52-week low of $8.99 and a 52-week high of $20.55. The firm has a market cap of $2.77 billion, a P/E ratio of 13.16 and a beta of -0.13.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. DHT had a net margin of 42.35% and a return on equity of 17.70%. The company had revenue of $117.80 million during the quarter, compared to the consensus estimate of $116.96 million. During the same period in the prior year, the company earned $0.34 EPS. DHT’s revenue was up 37.8% on a year-over-year basis. As a group, sell-side analysts predict that DHT will post 0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in DHT by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,633,115 shares of the shipping company’s stock valued at $127,067,000 after buying an additional 66,242 shares during the period. American Century Companies Inc. boosted its stake in shares of DHT by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 5,280,063 shares of the shipping company’s stock valued at $63,097,000 after buying an additional 380,688 shares during the period. Victory Capital Management Inc. grew its holdings in shares of DHT by 1.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,008,679 shares of the shipping company’s stock valued at $36,736,000 after acquiring an additional 44,986 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of DHT by 11.9% during the 3rd quarter. Wasatch Advisors LP now owns 2,329,182 shares of the shipping company’s stock valued at $27,834,000 after acquiring an additional 248,620 shares in the last quarter. Finally, State Street Corp increased its stake in shares of DHT by 0.8% in the fourth quarter. State Street Corp now owns 2,269,460 shares of the shipping company’s stock worth $27,710,000 after acquiring an additional 17,221 shares during the last quarter. 58.53% of the stock is owned by hedge funds and other 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.