Zacks Investment Research Lowers DHT (NYSE:DHT) to Hold

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Zacks Investment Research cut shares of DHT (NYSE:DHT) from a buy rating to a hold rating in a report issued on Tuesday, reports.

According to Zacks, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities. “

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Acceleron Pharma from a strong-buy rating to a buy rating in a research note on Thursday, April 18th. Evercore ISI lowered shares of DHT from an outperform rating to an in-line rating and set a $5.17 target price on the stock. in a research note on Wednesday, April 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $6.28.

NYSE:DHT traded up $0.01 during midday trading on Tuesday, reaching $6.01. The stock had a trading volume of 7,274 shares, compared to its average volume of 776,856. DHT has a 1-year low of $3.60 and a 1-year high of $6.15. The business has a fifty day moving average price of $5.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.47 and a quick ratio of 1.21. The firm has a market capitalization of $849.15 million, a PE ratio of -24.00, a P/E/G ratio of 4.59 and a beta of 0.57.

DHT (NYSE:DHT) last posted its earnings results on Wednesday, May 8th. The shipping company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. DHT had a negative net margin of 5.17% and a negative return on equity of 1.09%. The business had revenue of $85.80 million for the quarter, compared to analyst estimates of $77.18 million. During the same period last year, the business posted ($0.06) EPS. DHT’s revenue was up 85.7% compared to the same quarter last year. As a group, equities research analysts expect that DHT will post 0.26 EPS for the current year.

A number of large investors have recently bought and sold shares of DHT. Dimensional Fund Advisors LP boosted its holdings in DHT by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,205,894 shares of the shipping company’s stock valued at $36,087,000 after purchasing an additional 707,575 shares during the period. BlackRock Inc. boosted its holdings in DHT by 2.4% in the 4th quarter. BlackRock Inc. now owns 4,746,892 shares of the shipping company’s stock valued at $18,608,000 after purchasing an additional 111,286 shares during the period. Saya Management LP boosted its holdings in DHT by 17.3% in the 4th quarter. Saya Management LP now owns 1,833,068 shares of the shipping company’s stock valued at $7,186,000 after purchasing an additional 270,327 shares during the period. DNB Asset Management AS boosted its holdings in DHT by 792.4% in the 2nd quarter. DNB Asset Management AS now owns 1,579,600 shares of the shipping company’s stock valued at $9,320,000 after purchasing an additional 1,402,600 shares during the period. Finally, Hartree Partners LP boosted its holdings in DHT by 90.0% in the 1st quarter. Hartree Partners LP now owns 760,000 shares of the shipping company’s stock valued at $3,390,000 after purchasing an additional 360,000 shares during the period. Institutional investors and hedge funds own 36.42% of the company’s stock.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of March 18, 2019, it had a fleet of 27 very large crude carriers with a capacity of 8,360,850 deadweight tons. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

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