DHT (DHT) PT Raised to $7.00 at Wells Fargo & Co

DHT (NYSE:DHT) had its target price boosted by Wells Fargo & Co from $6.00 to $7.00 in a research note published on Monday morning. They currently have a buy rating on the shipping company’s stock.

Other equities analysts have also recently issued reports about the stock. ValuEngine upgraded shares of DHT from a hold rating to a buy rating in a report on Saturday, October 6th. Zacks Investment Research upgraded shares of DHT from a hold rating to a buy rating and set a $5.25 price target on the stock in a report on Thursday, July 19th. Morgan Stanley boosted their price target on shares of DHT from $5.00 to $6.00 and gave the company a buy rating in a report on Wednesday, July 18th. Maxim Group restated a buy rating and set a $6.00 price target on shares of DHT in a report on Thursday, August 9th. Finally, Pareto Securities upgraded shares of DHT from a hold rating to a buy rating in a report on Thursday, October 25th. Nine investment analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $6.17.

NYSE DHT opened at $5.06 on Monday. DHT has a twelve month low of $3.27 and a twelve month high of $5.60. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.33 and a current ratio of 1.78. The company has a market cap of $783.91 million, a price-to-earnings ratio of 38.92 and a beta of 0.25.

DHT (NYSE:DHT) last posted its quarterly earnings data on Thursday, November 1st. The shipping company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). DHT had a negative return on equity of 6.95% and a negative net margin of 23.10%. The firm had revenue of $48.20 million for the quarter, compared to analysts’ expectations of $50.07 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, equities analysts expect that DHT will post -0.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 16th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, November 15th. DHT’s dividend payout ratio is currently 61.54%.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of DHT by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,808,667 shares of the shipping company’s stock valued at $36,623,000 after acquiring an additional 76,005 shares in the last quarter. BlackRock Inc. lifted its stake in shares of DHT by 14.0% in the 2nd quarter. BlackRock Inc. now owns 4,598,101 shares of the shipping company’s stock valued at $21,565,000 after purchasing an additional 565,749 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of DHT by 16.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,034,400 shares of the shipping company’s stock valued at $14,231,000 after purchasing an additional 420,500 shares during the last quarter. Northern Trust Corp lifted its stake in shares of DHT by 4.1% in the 2nd quarter. Northern Trust Corp now owns 2,783,759 shares of the shipping company’s stock valued at $13,056,000 after purchasing an additional 110,645 shares during the last quarter. Finally, Lansdowne Partners UK LLP lifted its stake in shares of DHT by 185.4% in the 2nd quarter. Lansdowne Partners UK LLP now owns 2,581,741 shares of the shipping company’s stock valued at $12,109,000 after purchasing an additional 1,677,197 shares during the last quarter. Institutional investors and hedge funds own 40.00% of the company’s stock.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Oslo, Norway and Singapore. As of February 6, 2018, it had a fleet of 27 very large crude carriers and 2 Aframaxes with deadweight tons of 8,590,740. The company was founded in 2005 and is headquartered in Hamilton, Bermuda.

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