Wall Street Zen Downgrades DHT (NYSE:DHT) to Hold

DHT (NYSE:DHT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Other research analysts have also recently issued reports about the stock. BTIG Research reiterated a “buy” rating and set a $16.00 price target on shares of DHT in a research report on Thursday, October 30th. Evercore ISI upped their price target on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of DHT in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and an average target price of $15.67.

DHT Trading Down 1.2%

NYSE DHT opened at $13.65 on Friday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.01 and a beta of -0.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.41 and a quick ratio of 2.02. DHT has a one year low of $8.99 and a one year high of $14.22. The business’s fifty day moving average is $12.83 and its 200-day moving average is $12.27.

DHT (NYSE:DHT) last posted its quarterly earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.11. The company had revenue of $107.35 million during the quarter, compared to the consensus estimate of $78.83 million. DHT had a return on equity of 17.05% and a net margin of 41.17%.The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 EPS. Equities research analysts predict that DHT will post 0.94 EPS for the current year.

Institutional Investors Weigh In On DHT

Several hedge funds and other institutional investors have recently made changes to their positions in DHT. Dimensional Fund Advisors LP raised its holdings in shares of DHT by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 10,633,115 shares of the shipping company’s stock valued at $127,067,000 after acquiring an additional 66,242 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of DHT by 7.8% during the third quarter. American Century Companies Inc. now owns 5,280,063 shares of the shipping company’s stock worth $63,097,000 after buying an additional 380,688 shares during the period. Victory Capital Management Inc. grew its stake in DHT by 360.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock valued at $35,416,000 after purchasing an additional 2,320,564 shares during the last quarter. Wasatch Advisors LP boosted its position in DHT by 11.9% in the third quarter. Wasatch Advisors LP now owns 2,329,182 shares of the shipping company’s stock valued at $27,834,000 after buying an additional 248,620 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of DHT by 18.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,857,049 shares of the shipping company’s stock worth $22,192,000 after acquiring an additional 293,580 shares during the period. Hedge funds and other 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.