Zacks Investment Research Lowers DHT (NYSE:DHT) to Hold

Zacks Investment Research downgraded shares of DHT (NYSE:DHT) from a buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities. “

DHT has been the subject of several other reports. Evercore ISI cut shares of DHT from an outperform rating to an in-line rating and set a $5.17 price objective for the company. in a report on Wednesday, April 24th. ValuEngine cut shares of Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. DHT has a consensus rating of Buy and a consensus target price of $6.28.

Shares of DHT stock traded up $0.01 on Tuesday, hitting $6.01. The company had a trading volume of 7,274 shares, compared to its average volume of 776,856. The business has a 50-day simple moving average of $5.69. The company has a current ratio of 1.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.95. The stock has a market cap of $849.15 million, a P/E ratio of -24.00, a PEG ratio of 4.59 and a beta of 0.57. DHT has a 52 week low of $3.60 and a 52 week high of $6.15.

DHT (NYSE:DHT) last posted its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. The business had revenue of $85.80 million during the quarter, compared to analysts’ expectations of $77.18 million. DHT had a negative net margin of 5.17% and a negative return on equity of 1.09%. The business’s revenue was up 85.7% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. On average, equities analysts expect that DHT will post 0.26 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of DHT by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,205,894 shares of the shipping company’s stock valued at $36,087,000 after acquiring an additional 707,575 shares in the last quarter. BlackRock Inc. lifted its position in shares of DHT by 2.4% in the 4th quarter. BlackRock Inc. now owns 4,746,892 shares of the shipping company’s stock valued at $18,608,000 after acquiring an additional 111,286 shares in the last quarter. Saya Management LP lifted its position in shares of DHT by 17.3% in the 4th quarter. Saya Management LP now owns 1,833,068 shares of the shipping company’s stock valued at $7,186,000 after acquiring an additional 270,327 shares in the last quarter. DNB Asset Management AS lifted its position in shares of DHT by 792.4% in the 2nd quarter. DNB Asset Management AS now owns 1,579,600 shares of the shipping company’s stock valued at $9,320,000 after acquiring an additional 1,402,600 shares in the last quarter. Finally, Hartree Partners LP lifted its position in shares of DHT by 90.0% in the 1st quarter. Hartree Partners LP now owns 760,000 shares of the shipping company’s stock valued at $3,390,000 after acquiring an additional 360,000 shares in the last quarter. 36.42% of the stock is owned by institutional investors and hedge funds.

DHT Company Profile

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of March 18, 2019, it had a fleet of 27 very large crude carriers with a capacity of 8,360,850 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

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