BTIG Research Initiates Coverage on DHT (NYSE:DHT)

Analysts at BTIG Research started coverage on shares of DHT (NYSE:DHT) in a report issued on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $16.00 price target on the shipping company’s stock. BTIG Research’s target price suggests a potential upside of 42.73% from the stock’s previous close.

A number of other brokerages have also issued reports on DHT. StockNews.com lowered DHT from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Fearnley Fonds raised shares of DHT to a “strong-buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus boosted their target price on shares of DHT from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

DHT Stock Up 1.6 %

DHT opened at $11.21 on Tuesday. The company has a fifty day moving average of $11.03 and a two-hundred day moving average of $11.40. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 10.68 and a beta of -0.36. DHT has a fifty-two week low of $9.28 and a fifty-two week high of $12.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.33 and a current ratio of 2.87.

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

Institutional Trading of DHT

Hedge funds have recently bought and sold shares of the business. Quarry LP increased its holdings in shares of DHT by 2,494.6% in the second quarter. Quarry LP now owns 3,866 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 3,717 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of DHT in the 1st quarter worth $51,000. Summit Securities Group LLC purchased a new position in shares of DHT during the 2nd quarter worth $78,000. Point72 Hong Kong Ltd acquired a new position in shares of DHT during the 2nd quarter valued at about $80,000. Finally, Blue Trust Inc. boosted its position 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 acquiring an additional 7,909 shares during the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

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.