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 report published on Saturday.

Several other equities analysts also recently issued reports on DHT. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. BTIG Research lifted their target price on DHT from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Finally, Dnb Carnegie lowered DHT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, DHT currently has an average rating of “Moderate Buy” and a consensus target price of $16.33.

DHT Stock Up 2.8%

DHT stock opened at $17.76 on Friday. The stock has a market cap of $2.86 billion, a PE ratio of 13.55 and a beta of -0.13. The firm’s 50-day simple moving average is $16.07 and its 200 day simple moving average is $13.80. DHT has a fifty-two week low of $8.99 and a fifty-two week high of $20.55. The company has a quick ratio of 2.47, a current ratio of 2.80 and a debt-to-equity ratio of 0.34.

DHT (NYSE:DHT) last posted its earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. DHT had a net margin of 42.35% and a return on equity of 17.70%. The firm had revenue of $117.80 million during the quarter, compared to analyst estimates of $116.96 million. During the same period in the previous year, the business posted $0.34 EPS. DHT’s revenue was up 37.8% on a year-over-year basis. As a group, sell-side analysts predict that DHT will post 0.94 EPS for the current year.

DHT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 19th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, February 19th. This is an increase from DHT’s previous quarterly dividend of $0.18. This represents a $1.64 dividend on an annualized basis and a yield of 9.2%. DHT’s dividend payout ratio is presently 125.19%.

Institutional Investors Weigh In On DHT

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. boosted its position in shares of DHT by 101.6% during the 3rd quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,368 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in DHT by 190.9% during the second 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 during the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in DHT by 568.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,554 shares of the shipping company’s stock worth $43,000 after buying an additional 3,022 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in DHT by 96.5% during the third quarter. Fifth Third Bancorp now owns 4,159 shares of the shipping company’s stock worth $50,000 after buying an additional 2,042 shares in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.

DHT Company Profile

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.