DHT (NYSE:DHT) Upgraded at Fearnley Fonds

DHT (NYSE:DHT) was upgraded by research analysts at Fearnley Fonds to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports.

DHT has been the subject of several other reports. StockNews.com downgraded DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus lifted their price target on DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.67.

DHT Trading Down 0.4 %

Shares of DHT stock opened at $11.03 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $11.00 and its two-hundred day moving average is $11.38. DHT has a twelve month low of $9.28 and a twelve month high of $12.80. The company has a market capitalization of $1.78 billion, a P/E ratio of 10.50 and a beta of -0.36.

DHT (NYSE:DHT) last released its 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 during the quarter, compared to analyst estimates of $102.75 million. DHT had a return on equity of 15.19% and a net margin of 27.45%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Equities analysts forecast that DHT will post 1.14 EPS for the current year.

Hedge Funds Weigh In On DHT

Several large investors have recently added to or reduced their stakes in the business. Quarry LP grew its holdings in DHT by 2,494.6% in the 2nd quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after buying an additional 3,717 shares during the period. Headlands Technologies LLC acquired a new position in DHT during the first quarter worth approximately $51,000. Summit Securities Group LLC purchased a new position in DHT during the second quarter worth approximately $78,000. Point72 Hong Kong Ltd acquired a new position in shares of DHT in the 2nd quarter valued at $80,000. Finally, Blue Trust Inc. grew its stake in shares of DHT by 41,626.3% during the 2nd quarter. Blue Trust Inc. now owns 7,928 shares of the shipping company’s stock valued at $91,000 after buying an additional 7,909 shares during the period. 58.53% of the stock is currently owned by hedge funds and other 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.