DHT (NYSE:DHT) Downgraded by Evercore to “In-Line”

DHT (NYSE:DHT) was downgraded by research analysts at Evercore from an “outperform” rating to an “in-line” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $19.00 price target on the shipping company’s stock. Evercore’s price objective points to a potential upside of 5.58% from the company’s previous close.

DHT has been the subject of several other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of DHT in a report on Monday. BTIG Research boosted their price target on shares of DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Dnb Carnegie lowered shares of DHT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen raised shares of DHT from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

DHT Price Performance

Shares of NYSE DHT opened at $18.00 on Wednesday. The firm has a market cap of $2.89 billion, a PE ratio of 13.74 and a beta of -0.09. The firm has a fifty day moving average of $17.79 and a 200 day moving average of $14.63. 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 $9.91 and a one year high of $20.55.

DHT (NYSE:DHT) last issued its quarterly earnings results on Wednesday, February 4th. The shipping company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $117.85 million during the quarter, compared to analyst estimates of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. The firm’s revenue was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS.

Institutional Investors Weigh In On DHT

A number of large investors have recently modified their holdings of DHT. Victory Capital Management Inc. grew its holdings in shares of DHT by 360.8% during the third quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company’s stock worth $35,416,000 after buying an additional 2,320,564 shares in the last quarter. Marex Group plc grew its holdings in shares of DHT by 5,860.2% during the fourth quarter. Marex Group plc now owns 1,084,752 shares of the shipping company’s stock worth $13,245,000 after buying an additional 1,066,552 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of DHT by 706.0% during the second quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company’s stock worth $11,650,000 after buying an additional 943,990 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of DHT during the fourth quarter worth $8,927,000. Finally, Public Sector Pension Investment Board grew its holdings in shares of DHT by 447.5% during the fourth quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company’s stock worth $9,092,000 after buying an additional 608,601 shares in the last quarter. 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.