DHT (NYSE:DHT) Downgraded by Dnb Carnegie to Hold

Dnb Carnegie cut shares of DHT (NYSE:DHT) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other analysts have also issued reports on the company. BTIG Research raised their price target on DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of DHT in a report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of DHT from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.33.

DHT Stock Down 2.1%

DHT stock opened at $19.23 on Tuesday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 14.68 and a beta of -0.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.47 and a current ratio of 2.80. DHT has a one year low of $8.99 and a one year high of $20.55. The company has a 50 day moving average price of $14.56 and a two-hundred day moving average price of $13.18.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $117.80 million for the quarter, compared to analyst estimates of $116.96 million. DHT had a return on equity of 17.70% and a net margin of 42.35%.The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 EPS. As a group, sell-side analysts expect that DHT will post 0.94 EPS for the current year.

DHT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 19th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $1.64 annualized dividend and a dividend yield of 8.5%. This is an increase from DHT’s previous quarterly dividend of $0.18. DHT’s dividend payout ratio is presently 125.19%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in DHT by 360.8% during the third quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock valued at $35,416,000 after buying an additional 2,320,564 shares in the last quarter. Marex Group plc raised its stake in shares of DHT by 5,860.2% in the 4th quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock valued at $13,245,000 after acquiring an additional 1,066,552 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of DHT by 706.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock valued at $11,650,000 after acquiring an additional 943,990 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in DHT during the 4th quarter worth $8,927,000. Finally, Public Sector Pension Investment Board boosted its position in DHT by 447.5% during the 4th quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company’s stock worth $9,092,000 after purchasing an additional 608,601 shares during the period. Hedge funds and other institutional investors own 58.53% of the company’s stock.

About DHT

DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.