DHT (NYSE:DHT) Downgraded by StockNews.com to Sell

DHT (NYSE:DHT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Separately, Stifel Nicolaus lifted their target price on DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.67.

DHT Price Performance

Shares of DHT stock opened at $10.26 on Monday. DHT has a twelve month low of $8.60 and a twelve month high of $12.80. The stock has a market capitalization of $1.65 billion, a P/E ratio of 9.77 and a beta of -0.36. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $11.04 and its 200 day moving average price is $11.37.

DHT (NYSE:DHT) last issued its quarterly earnings data on Monday, August 12th. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $103.70 million for the quarter, compared to analyst estimates of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, research analysts anticipate that DHT will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On DHT

Several hedge funds and other institutional investors have recently made changes to their positions in DHT. Quarry LP boosted its position in shares of DHT by 2,494.6% during the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock worth $45,000 after buying an additional 3,717 shares during the period. National Bank of Canada FI boosted its stake in DHT by 150.0% during the 4th quarter. National Bank of Canada FI now owns 5,000 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 3,000 shares in the last quarter. Headlands Technologies LLC bought a new position in DHT during the 1st quarter valued at $51,000. Summit Securities Group LLC bought a new position in DHT during the 2nd quarter valued at $78,000. Finally, Point72 Hong Kong Ltd bought a new position in DHT during the 2nd quarter valued at $80,000. 58.53% of the stock is currently owned by institutional investors and hedge funds.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.