DHT (NYSE:DHT) Rating Lowered to Sell at StockNews.com

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

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

DHT Trading Down 1.9 %

NYSE:DHT traded down $0.20 during mid-day trading on Monday, hitting $10.32. 2,080,728 shares of the stock traded hands, compared to its average volume of 1,874,094. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 9.82 and a beta of -0.36. DHT has a 52 week low of $8.60 and a 52 week high of $12.80. The firm’s 50 day moving average is $11.06 and its two-hundred day moving average is $11.38. The company has a quick ratio of 2.33, a current ratio of 2.87 and a debt-to-equity ratio of 0.36.

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

Hedge Funds Weigh In On DHT

A number of hedge funds and other institutional investors have recently modified their holdings of DHT. Dimensional Fund Advisors LP lifted its position in DHT by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,361,401 shares of the shipping company’s stock valued at $131,076,000 after acquiring an additional 76,464 shares during the last quarter. Greenlight Capital Inc. lifted its position in DHT by 86.7% during the fourth quarter. Greenlight Capital Inc. now owns 3,779,880 shares of the shipping company’s stock valued at $37,081,000 after acquiring an additional 1,755,060 shares during the last quarter. Acadian Asset Management LLC lifted its position in DHT by 43.8% during the second quarter. Acadian Asset Management LLC now owns 3,388,665 shares of the shipping company’s stock valued at $39,184,000 after acquiring an additional 1,032,832 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of DHT by 43.8% in the second quarter. American Century Companies Inc. now owns 2,868,023 shares of the shipping company’s stock worth $33,183,000 after buying an additional 873,356 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of DHT by 28.8% in the second quarter. LSV Asset Management now owns 1,534,614 shares of the shipping company’s stock worth $17,755,000 after buying an additional 343,100 shares during the last quarter. 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.