DHT (NYSE:DHT) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

DHT (NYSE:DHT) posted its earnings results on Wednesday. The shipping company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01, Zacks reports. DHT had a return on equity of 17.05% and a net margin of 41.17%.

DHT Stock Down 2.4%

NYSE:DHT traded down $0.35 during midday trading on Wednesday, reaching $13.96. 2,767,116 shares of the stock traded hands, compared to its average volume of 2,584,775. The business has a 50-day moving average of $12.91 and a two-hundred day moving average of $12.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.02 and a current ratio of 2.41. DHT has a 12-month low of $8.99 and a 12-month high of $14.49. The stock has a market capitalization of $2.24 billion, a PE ratio of 11.26 and a beta of -0.07.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore ISI boosted their price objective on shares of DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Wall Street Zen downgraded shares of DHT from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. BTIG Research increased their price objective on shares of DHT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of DHT in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $16.00 price target on shares of DHT in a report on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DHT. CIBC Bancorp USA Inc. purchased a new stake in DHT in the third quarter valued at about $162,000. Sunbelt Securities Inc. purchased a new position in shares of DHT in the 3rd quarter valued at approximately $60,000. Dark Forest Capital Management LP purchased a new position in shares of DHT in the 3rd quarter valued at approximately $1,160,000. PharVision Advisers LLC boosted its stake in DHT by 46.2% in the 3rd quarter. PharVision Advisers LLC now owns 24,588 shares of the shipping company’s stock worth $294,000 after purchasing an additional 7,771 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in DHT during the 3rd quarter worth approximately $913,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

DHT Company Profile

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.