DHT (NYSE:DHT) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded DHT from a “buy” to a “strong-buy” rating, adding to a mixed analyst picture that still leaves the stock with a consensus Moderate Buy rating.
• DHT recently beat quarterly earnings expectations, reporting $0.64 EPS versus the $0.62 estimate, while revenue rose 134.9% year over year to $157.2 million.
• The stock traded at $18.98, near its 52-week high of $20.55, and the company remains supported by institutional ownership of 58.53%.

DHT (NYSE:DHT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also commented on DHT. Dnb Carnegie lowered DHT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. BTIG Research raised their price target on DHT from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Evercore downgraded DHT from an "outperform" rating to an "in-line" rating and set a $19.00 price objective on the stock. in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of DHT in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $19.33.

DHT Price Performance

DHT stock opened at $18.98 on Friday. DHT has a one year low of $10.61 and a one year high of $20.55. The business has a fifty day moving average price of $18.15 and a 200-day moving average price of $15.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 2.47. The firm has a market capitalization of $3.06 billion, a P/E ratio of 9.21 and a beta of -0.08.

DHT (NYSE:DHT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The shipping company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. DHT had a return on equity of 27.54% and a net margin of 58.54%.The firm had revenue of $157.20 million during the quarter, compared to analyst estimates of $152.15 million. During the same period last year, the company earned $0.27 earnings per share. The business's revenue for the quarter was up 134.9% on a year-over-year basis.

Institutional Investors Weigh In On DHT

Large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in DHT by 101.6% during the third 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. EverSource Wealth Advisors LLC raised 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 valued at $36,000 after purchasing an additional 1,596 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of DHT by 568.0% in 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 during the period. Fifth Third Bancorp increased its holdings in shares of DHT by 96.5% in 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 during the period. Finally, Sound Income Strategies LLC purchased a new position in shares of DHT in the fourth quarter worth about $58,000. Hedge funds and other institutional investors own 58.53% of the company's stock.

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.

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