Zacks Investment Research lowered shares of DHT Holdings Inc. (NYSE:DHT) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
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. “
DHT has been the topic of a number of other research reports. Jefferies Group restated a buy rating on shares of DHT Holdings in a research report on Monday, August 29th. Wells Fargo & Co. initiated coverage on shares of DHT Holdings in a research report on Monday, September 26th. They issued a market perform rating on the stock. Morgan Stanley lowered shares of DHT Holdings from an overweight rating to an equal weight rating and cut their target price for the company from $7.00 to $5.50 in a research report on Thursday, August 25th. Finally, TheStreet lowered shares of DHT Holdings from a buy rating to a hold rating in a report on Monday, September 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $7.78.
DHT Holdings (NYSE:DHT) opened at 4.20 on Tuesday. The company has a 50-day moving average of $4.23 and a 200-day moving average of $5.05. DHT Holdings has a 52 week low of $4.00 and a 52 week high of $8.40. The firm has a market capitalization of $392.14 million, a price-to-earnings ratio of 3.44 and a beta of 1.00.
DHT Holdings (NYSE:DHT) last issued its earnings results on Tuesday, August 9th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. DHT Holdings had a net margin of 33.81% and a return on equity of 17.09%. The firm had revenue of $83.20 million for the quarter, compared to analyst estimates of $82.44 million. During the same quarter last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts forecast that DHT Holdings will post $1.02 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the company. InterOcean Capital LLC increased its position in shares of DHT Holdings by 2.1% in the second quarter. InterOcean Capital LLC now owns 54,825 shares of the company’s stock worth $276,000 after buying an additional 1,150 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of DHT Holdings by 0.8% in the second quarter. BlackRock Fund Advisors now owns 2,349,759 shares of the company’s stock worth $11,819,000 after buying an additional 17,977 shares in the last quarter. Lombard Odier Asset Management USA Corp increased its position in shares of DHT Holdings by 10.6% in the second quarter. Lombard Odier Asset Management USA Corp now owns 212,894 shares of the company’s stock worth $1,071,000 after buying an additional 20,393 shares in the last quarter. WealthTrust Axiom LLC purchased a new position in shares of DHT Holdings during the second quarter worth $102,000. Finally, Wolverine Asset Management LLC increased its position in shares of DHT Holdings by 20.7% in the second quarter. Wolverine Asset Management LLC now owns 121,200 shares of the company’s stock worth $609,000 after buying an additional 20,800 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.
DHT Holdings Company Profile
DHT Holdings, Inc (DHT) is a holding company. The Company, through its subsidiaries, owns and operates a fleet of crude oil tankers. Its fleet consists of approximately 20 crude oil tankers in operation, all of which are owned by the company. The Company’s fleet in operation consists of over 20 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (DWTs), approximately one Suezmax tanker (Suezmax), which is a tanker ranging in size from 130,000 to 170,000 DWT and over two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 DWT.