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

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

DHT has been the subject of a number of other reports. Morgan Stanley upped their price objective on DHT from $5.50 to $6.00 and gave the stock a buy rating in a report on Monday, November 5th. ValuEngine downgraded DHT from a buy rating to a hold rating in a report on Wednesday, November 21st. DNB Markets downgraded DHT from a buy rating to a hold rating in a report on Friday, November 30th. TheStreet upgraded DHT from a d+ rating to a c rating in a report on Thursday, November 1st. Finally, Pareto Securities upgraded DHT from a hold rating to a buy rating in a report on Thursday, October 25th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $6.08.

DHT stock opened at $4.28 on Thursday. The firm has a market cap of $636.03 million, a PE ratio of 32.92 and a beta of 0.32. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.78 and a quick ratio of 1.47. DHT has a 52 week low of $3.27 and a 52 week high of $5.60.

DHT (NYSE:DHT) last released its quarterly earnings data on Thursday, November 1st. The shipping company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $48.20 million for the quarter, compared to analyst estimates of $50.07 million. DHT had a negative return on equity of 6.95% and a negative net margin of 23.10%. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. On average, analysts forecast that DHT will post -0.24 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in DHT in the 3rd quarter valued at $2,289,000. Renaissance Technologies LLC increased its holdings in 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 in the last quarter. Northern Trust Corp increased its holdings in 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 in the last quarter. Odey Asset Management Group Ltd acquired a new stake in DHT in the 2nd quarter valued at $350,000. Finally, DNB Asset Management AS acquired a new stake in DHT in the 3rd quarter valued at $584,000. Hedge funds and other 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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Analyst Recommendations for DHT (NYSE:DHT)

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