Jefferies Financial Group Reaffirms Buy Rating for DHT (NYSE:DHT)

DHT (NYSE:DHT)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Financial Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $14.00 price objective on the shipping company’s stock. Jefferies Financial Group’s price target points to a potential upside of 29.63% from the stock’s previous close.

Several other analysts have also weighed in on DHT. BTIG Research started coverage on DHT in a report on Tuesday, October 15th. They issued a “buy” rating and a $16.00 price objective for the company. StockNews.com lowered shares of DHT from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Fearnley Fonds raised DHT to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus reduced their price objective on shares of DHT from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, DHT presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

DHT Stock Up 0.9 %

DHT stock opened at $10.80 on Wednesday. The firm’s 50-day moving average is $10.92 and its two-hundred day moving average is $11.28. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.80 and a beta of -0.36. DHT has a 52 week low of $9.28 and a 52 week high of $12.80. The company has a current ratio of 2.87, a quick ratio of 2.33 and a debt-to-equity ratio of 0.36.

DHT (NYSE:DHT) last announced its earnings results on Tuesday, November 12th. The shipping company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $92.64 million for the quarter, compared to analysts’ expectations of $87.51 million. DHT had a return on equity of 15.57% and a net margin of 27.72%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 earnings per share. On average, analysts forecast that DHT will post 1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DHT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP boosted its position in DHT by 2,494.6% during 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 bought a new stake in shares of DHT in the 1st quarter valued at approximately $51,000. Summit Securities Group LLC acquired a new position in DHT in the second quarter worth approximately $78,000. Nisa Investment Advisors LLC raised its position in DHT by 52.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,888 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 2,361 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in DHT in the second quarter valued at approximately $80,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

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.