DHT Holdings Inc. (NYSE:DHT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
Several other equities analysts have also recently weighed in on DHT. Morgan Stanley set a $7.00 target price on shares of DHT Holdings and gave the company a “buy” rating in a research note on Wednesday, August 10th. Pareto Securities raised shares of DHT Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, November 3rd. TheStreet cut shares of DHT Holdings from a “buy” rating to a “hold” rating in a research note on Monday, September 19th. Jefferies Group reissued a “buy” rating and issued a $6.00 price objective on shares of DHT Holdings in a research note on Thursday, August 11th. Finally, Wells Fargo & Co. initiated coverage on shares of DHT Holdings in a research note on Monday, September 26th. They issued a “market perform” rating for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $6.71.
Shares of DHT Holdings (NYSE:DHT) traded up 0.78% during trading on Monday, hitting $3.87. 1,719,891 shares of the company traded hands. The company has a 50 day moving average price of $3.99 and a 200 day moving average price of $4.64. The company has a market capitalization of $361.33 million, a price-to-earnings ratio of 15.12 and a beta of 1.56. DHT Holdings has a 52 week low of $3.29 and a 52 week high of $8.24.
DHT Holdings (NYSE:DHT) last posted its earnings results on Tuesday, November 1st. The company reported ($0.81) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.85. The company had revenue of $50.30 million for the quarter, compared to analysts’ expectations of $56.73 million. DHT Holdings had a net margin of 6.84% and a return on equity of 13.75%. The business’s revenue was down 32.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. On average, analysts expect that DHT Holdings will post $0.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 16th were issued a $0.02 dividend. The ex-dividend date was Monday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 2.07%. DHT Holdings’s dividend payout ratio (DPR) is presently 57.14%.
Several large investors have recently added to or reduced their stakes in the company. WealthTrust Axiom LLC purchased a new stake in DHT Holdings during the second quarter valued at about $102,000. Emerald Acquisition Ltd. bought a new stake in shares of DHT Holdings during the second quarter worth $335,000. Prudential Financial Inc. raised its stake in shares of DHT Holdings by 99.6% in the second quarter. Prudential Financial Inc. now owns 1,034,100 shares of the company’s stock worth $5,202,000 after buying an additional 516,100 shares during the last quarter. James Investment Research Inc. bought a new stake in shares of DHT Holdings during the second quarter worth $594,000. Finally, InterOcean Capital LLC raised its stake 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 during the last quarter. Hedge funds and other institutional investors own 56.89% of the company’s stock.
About DHT Holdings
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.