DHT (NYSE:DHT) Upgraded by Fearnley Fonds to Strong-Buy

DHT (NYSE:DHT) was upgraded by analysts at Fearnley Fonds to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

Several other research analysts also recently commented on DHT. Stifel Nicolaus increased their price objective on shares of DHT from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. StockNews.com cut DHT from a “hold” rating to a “sell” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.

DHT Trading Down 0.4 %

Shares of DHT stock opened at $11.03 on Friday. The stock has a fifty day simple moving average of $11.00 and a two-hundred day simple moving average of $11.38. DHT has a 52-week low of $9.28 and a 52-week high of $12.80. The firm has a market capitalization of $1.78 billion, a PE ratio of 10.50 and a beta of -0.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.33 and a current ratio of 2.87.

DHT (NYSE:DHT) last issued its earnings results on Monday, August 12th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). DHT had a net margin of 27.45% and a return on equity of 15.19%. The business had revenue of $103.70 million for the quarter, compared to the consensus estimate of $102.75 million. During the same period last year, the business posted $0.35 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, analysts predict that DHT will post 1.14 EPS for the current fiscal year.

Institutional Trading of DHT

A number of institutional investors have recently bought and sold shares of DHT. Greenlight Capital Inc. lifted its holdings in shares of DHT by 86.7% in the 4th quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock worth $37,081,000 after acquiring an additional 1,755,060 shares during the last quarter. M&G Plc bought a new position in DHT in the 1st quarter valued at $16,417,000. Acadian Asset Management LLC increased its stake in DHT by 43.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock worth $39,184,000 after buying an additional 1,032,832 shares during the period. American Century Companies Inc. increased its holdings in DHT by 43.8% during the 2nd quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after purchasing an additional 873,356 shares during the period. Finally, TrueMark Investments LLC bought a new position in shares of DHT during the 2nd quarter worth $4,371,000. 58.53% of the stock is currently owned by institutional investors.

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.