DHT (NYSE:DHT) Issues Earnings Results, Beats Estimates By $0.01 EPS

DHT (NYSE:DHT) issued its quarterly earnings results on Wednesday. The shipping company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01, Zacks reports. DHT had a return on equity of 17.05% and a net margin of 41.17%.

DHT Price Performance

DHT stock traded down $0.35 during trading on Wednesday, reaching $13.96. The company had a trading volume of 2,767,116 shares, compared to its average volume of 2,584,775. The firm has a market capitalization of $2.24 billion, a PE ratio of 11.26 and a beta of -0.07. The firm’s 50-day simple moving average is $12.91 and its 200 day simple moving average is $12.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.02 and a current ratio of 2.41. DHT has a 1-year low of $8.99 and a 1-year high of $14.49.

Institutional Trading of DHT

Several institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd raised its position in shares of DHT by 706.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock worth $11,650,000 after purchasing an additional 943,990 shares during the last quarter. Lazard Asset Management LLC increased its stake in DHT by 1,376.6% during the 2nd quarter. Lazard Asset Management LLC now owns 388,043 shares of the shipping company’s stock worth $4,194,000 after buying an additional 361,764 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position 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 valued at $22,192,000 after acquiring an additional 293,580 shares in the last quarter. Wasatch Advisors LP increased its position in shares of DHT by 11.9% during the third quarter. Wasatch Advisors LP now owns 2,329,182 shares of the shipping company’s stock worth $27,834,000 after purchasing an additional 248,620 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in DHT by 55.4% in the 2nd quarter. Bank of America Corp DE now owns 550,163 shares of the shipping company’s stock valued at $5,947,000 after purchasing an additional 196,047 shares during the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on DHT. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Evercore ISI lifted their price objective on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. BTIG Research lifted their price target on DHT from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $16.00 price target on shares of DHT in a report on Thursday, October 30th. Finally, Wall Street Zen cut shares of DHT from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.33.

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.