DHT (NYSE:DHT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DHT (NYSE:DHT) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research report on Wednesday, October 8th. Evercore ISI upped their price objective on shares of DHT from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Jefferies Financial Group reissued a “buy” rating and issued a $16.00 price target on shares of DHT in a research note on Thursday, October 30th. Finally, BTIG Research restated a “buy” rating and set a $16.00 price objective on shares of DHT in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

DHT Trading Down 0.1%

Shares of DHT stock opened at $13.27 on Friday. The company’s 50-day moving average price is $12.83 and its 200-day moving average price is $12.19. The company has a current ratio of 2.41, a quick ratio of 2.02 and a debt-to-equity ratio of 0.22. DHT has a 12-month low of $8.99 and a 12-month high of $13.90. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 10.70 and a beta of -0.07.

DHT (NYSE:DHT) last posted its earnings results on Wednesday, October 29th. The shipping company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. DHT had a net margin of 41.17% and a return on equity of 17.05%. The business had revenue of $107.35 million for the quarter, compared to analyst estimates of $78.83 million. During the same quarter in the prior year, the firm posted $0.22 EPS. DHT’s revenue was down 14.6% on a year-over-year basis. On average, equities analysts expect that DHT will post 0.94 earnings per share for the current fiscal year.

DHT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, November 12th. This represents a $0.72 annualized dividend and a yield of 5.4%. DHT’s payout ratio is presently 58.06%.

Institutional Investors Weigh In On DHT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Roble Belko & Company Inc acquired a new position in DHT during the second quarter worth about $30,000. Federated Hermes Inc. grew its holdings in shares of DHT by 101.6% in the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after acquiring an additional 1,368 shares during the period. PNC Financial Services Group Inc. increased its stake in DHT by 190.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 1,982 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in DHT by 344.1% during the second quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock worth $34,000 after purchasing an additional 2,450 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in DHT by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,596 shares in the last quarter. Institutional investors and hedge funds 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.