DHT (NYSE:DHT) Downgraded to “In-Line” Rating by Evercore

Evercore lowered shares of DHT (NYSE:DHT) from an outperform rating to an in-line rating in a research note released on Wednesday morning, MarketBeat.com reports. Evercore currently has $19.00 price objective on the shipping company’s stock.

DHT has been the topic of a number of other reports. BTIG Research boosted their price target on shares of DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. 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 reiterated a “buy (b)” rating on shares of DHT in a research note on Monday. Finally, Wall Street Zen upgraded shares of DHT from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.33.

DHT Stock Down 1.4%

Shares of NYSE:DHT opened at $17.74 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 2.47. The firm has a market capitalization of $2.85 billion, a PE ratio of 13.54 and a beta of -0.09. The firm’s 50-day moving average is $17.84 and its two-hundred day moving average is $14.66. DHT has a 1 year low of $9.94 and a 1 year high of $20.55.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $117.85 million for 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 period in the prior year, the firm earned $0.34 earnings per share.

DHT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 19th were given a dividend of $0.41 per share. This is a boost from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend was Thursday, February 19th. DHT’s dividend payout ratio is presently 125.19%.

Hedge Funds Weigh In On DHT

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its position in shares of DHT by 358.6% during the first quarter. Janney Montgomery Scott LLC now owns 61,232 shares of the shipping company’s stock worth $1,119,000 after buying an additional 47,881 shares in the last quarter. Baron Wealth Management LLC grew its position in shares of DHT by 4.2% during the first quarter. Baron Wealth Management LLC now owns 14,750 shares of the shipping company’s stock worth $269,000 after buying an additional 592 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of DHT by 568.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after buying an additional 3,022 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of DHT during the fourth quarter worth about $714,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of DHT during the fourth quarter worth about $369,000. 58.53% of the stock is owned by institutional investors and hedge funds.

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.