DHT (NYSE:DHT) Stock Price Expected to Rise, BTIG Research Analyst Says

DHT (NYSE:DHT) had its price target lifted by research analysts at BTIG Research from $23.00 to $28.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. BTIG Research’s price objective indicates a potential upside of 22.80% from the company’s previous close.

Separately, Weiss Ratings upgraded shares of DHT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.00.

DHT Stock Down 1.0%

Shares of DHT opened at $22.80 on Friday. The company’s 50-day simple moving average is $19.34 and its 200-day simple moving average is $18.36. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.32 and a current ratio of 3.64. DHT has a 1 year low of $10.83 and a 1 year high of $23.46. The stock has a market capitalization of $3.67 billion, a PE ratio of 7.76 and a beta of -0.09.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.18 by $0.04. DHT had a net margin of 65.52% and a return on equity of 39.40%. The company had revenue of $254.96 million during the quarter, compared to analysts’ expectations of $247.17 million. During the same quarter last year, the company posted $0.35 EPS. The firm’s revenue was up 174.8% compared to the same quarter last year.

Insider Activity

In related news, Director Svenn Edvardsen sold 341,007 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $20.29, for a total value of $6,919,032.03. Following the completion of the transaction, the director directly owned 395,705 shares of the company’s stock, valued at $8,028,854.45. This represents a 46.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Laila Halvorsen sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer directly owned 161,011 shares in the company, valued at approximately $3,220,220. The trade was a 23.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 583,803 shares of company stock valued at $11,843,097 over the last 90 days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On DHT

Several hedge funds have recently made changes to their positions in DHT. Baron Wealth Management LLC boosted its position in shares of DHT by 4.2% in the 1st quarter. Baron Wealth Management LLC now owns 14,750 shares of the shipping company’s stock valued at $269,000 after purchasing an additional 592 shares during the period. Harbour Investments Inc. boosted its holdings in shares of DHT by 16.0% in the fourth quarter. Harbour Investments Inc. now owns 7,237 shares of the shipping company’s stock valued at $88,000 after acquiring an additional 1,000 shares during the period. PNC Financial Services Group Inc. grew its position in shares of DHT by 32.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,846 shares of the shipping company’s stock worth $89,000 after acquiring an additional 1,175 shares during the last quarter. Savant Capital LLC increased its holdings in shares of DHT by 7.6% in the 4th quarter. Savant Capital LLC now owns 19,083 shares of the shipping company’s stock valued at $233,000 after acquiring an additional 1,345 shares during the period. Finally, Triumph Capital Management increased its holdings in shares of DHT by 155.0% in the 2nd quarter. Triumph Capital Management now owns 3,697 shares of the shipping company’s stock valued at $61,000 after acquiring an additional 2,247 shares during the period. Hedge funds and other institutional investors own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a maritime transportation company that owns and operates crude oil tankers. Its fleet is primarily composed of very large crude carriers (VLCCs), which transport crude oil in international seaborne trade.

The company provides tanker transportation services to energy companies, commodity traders and other customers through a combination of voyage charters, time charters and related commercial arrangements. Its vessels serve major global crude oil trade routes linking oil-producing regions with refineries and consuming markets.

DHT was established in 2005 and is headquartered in Hamilton, Bermuda, with operations and commercial activities supported through international offices.