DHT (NYSE:DHT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks.com reports. The firm presently has a $7.75 price objective on the shipping company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 23.21% from the stock’s previous close.
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. “
Separately, ValuEngine downgraded DHT from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 8th.
DHT stock opened at $6.29 on Monday. The company has a market capitalization of $952.80 million, a P/E ratio of 104.85, a PEG ratio of 1.03 and a beta of 0.58. DHT has a twelve month low of $3.60 and a twelve month high of $8.83. The business has a 50 day simple moving average of $7.64 and a 200-day simple moving average of $6.77. The company has a current ratio of 1.58, a quick ratio of 1.36 and a debt-to-equity ratio of 1.01.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System lifted its holdings in shares of DHT by 8.8% during the fourth quarter. California Public Employees Retirement System now owns 656,628 shares of the shipping company’s stock worth $5,437,000 after purchasing an additional 53,309 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of DHT during the fourth quarter worth $2,125,000. DNB Asset Management AS lifted its holdings in shares of DHT by 63.7% during the fourth quarter. DNB Asset Management AS now owns 2,196,581 shares of the shipping company’s stock worth $18,188,000 after purchasing an additional 854,781 shares during the period. Man Group plc acquired a new stake in shares of DHT during the third quarter worth $440,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of DHT by 38.5% during the third quarter. Squarepoint Ops LLC now owns 243,949 shares of the shipping company’s stock worth $1,500,000 after purchasing an additional 67,750 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.
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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