“DHT reported 2Q18 results, which were lower than expected as the crude tanker sector faced a depressed rate environment. Although 2Q18 VLCC spot rates remained depressed at $5,301 per vessel/day, DHT, through its leading chartering desk, realized $11,900 per vessel/day.”,” Maxim Group’s analyst wrote.
A number of other analysts have also recently weighed in on DHT. Zacks Investment Research cut DHT from a hold rating to a sell rating in a research note on Tuesday, July 10th. ValuEngine upgraded DHT from a strong sell rating to a sell rating in a research note on Wednesday, May 2nd. Jefferies Financial Group restated a buy rating and issued a $5.00 price target on shares of DHT in a research note on Friday, April 20th. Morgan Stanley lifted their target price on DHT from $5.00 to $6.00 and gave the stock a buy rating in a research report on Wednesday, July 18th. Finally, JPMorgan Chase & Co. cut DHT from an overweight rating to a neutral rating in a research report on Friday, April 20th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. DHT presently has an average rating of Buy and a consensus target price of $5.38.
DHT traded down $0.04, reaching $4.33, during midday trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 407,556 shares, compared to its average volume of 623,404. DHT has a fifty-two week low of $3.27 and a fifty-two week high of $4.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.82 and a current ratio of 1.82.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Friday, August 24th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, August 23rd. DHT’s dividend payout ratio (DPR) is currently 61.54%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of DHT during the second quarter worth about $105,000. Wells Fargo & Company MN increased its position in shares of DHT by 43.8% during the fourth quarter. Wells Fargo & Company MN now owns 190,775 shares of the shipping company’s stock worth $685,000 after purchasing an additional 58,141 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of DHT during the fourth quarter worth about $232,000. Dimensional Fund Advisors LP increased its position in shares of DHT by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 7,808,667 shares of the shipping company’s stock worth $36,623,000 after purchasing an additional 76,005 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of DHT by 4.5% during the fourth quarter. BlackRock Inc. now owns 4,045,157 shares of the shipping company’s stock worth $14,522,000 after purchasing an additional 174,219 shares in the last quarter. Institutional investors and hedge funds own 39.25% of the company’s stock.
DHT Company Profile
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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