DHT (DHT) Downgraded to “Market Perform” at Wells Fargo & Co

Wells Fargo & Co cut shares of DHT (NYSE:DHT) from an outperform rating to a market perform rating in a report issued on Thursday morning, Marketbeat reports.

A number of other research firms have also issued reports on DHT. TheStreet upgraded DHT from a d+ rating to a c rating in a report on Thursday, November 1st. Morgan Stanley lifted their target price on DHT from $5.50 to $6.00 and gave the company a buy rating in a report on Monday, November 5th. Zacks Investment Research upgraded DHT from a hold rating to a buy rating and set a $6.00 target price for the company in a report on Wednesday, November 7th. ValuEngine upgraded DHT from a hold rating to a buy rating in a report on Saturday, October 6th. Finally, DNB Markets lowered DHT from a buy rating to a hold rating in a report on Friday, November 30th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and an average price target of $6.08.

Shares of DHT traded up $0.03 during midday trading on Thursday, hitting $4.28. 517,743 shares of the stock were exchanged, compared to its average volume of 758,918. DHT has a 52-week low of $3.27 and a 52-week high of $5.60. The firm has a market cap of $636.03 million, a P/E ratio of 32.92 and a beta of 0.32. The company has a quick ratio of 1.47, a current ratio of 1.78 and a debt-to-equity ratio of 1.01.

DHT (NYSE:DHT) last released its earnings results on Thursday, November 1st. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The company had revenue of $48.20 million during the quarter, compared to analysts’ expectations of $50.07 million. DHT had a negative net margin of 23.10% and a negative return on equity of 6.95%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) earnings per share. Sell-side analysts expect that DHT will post -0.24 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC raised its stake in DHT by 10.1% in the third quarter. Teachers Advisors LLC now owns 180,407 shares of the shipping company’s stock valued at $848,000 after buying an additional 16,527 shares in the last quarter. FMR LLC raised its stake in DHT by 11.2% in the third quarter. FMR LLC now owns 283,815 shares of the shipping company’s stock valued at $1,334,000 after buying an additional 28,589 shares in the last quarter. BlackRock Inc. raised its stake in DHT by 0.8% in the third quarter. BlackRock Inc. now owns 4,635,606 shares of the shipping company’s stock valued at $21,788,000 after buying an additional 37,505 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of DHT during the third quarter worth about $223,000. Finally, JPMorgan Chase & Co. increased its position in shares of DHT by 24.3% during the third quarter. JPMorgan Chase & Co. now owns 321,063 shares of the shipping company’s stock worth $1,509,000 after purchasing an additional 62,672 shares in the last quarter. Institutional investors own 40.96% 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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