DHT (NYSE:DHT) Raised to “Overweight” at JPMorgan Chase & Co.

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DHT (NYSE:DHT) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Friday, October 19th, Marketbeat Ratings reports. The brokerage presently has a $7.00 price objective on the shipping company’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 38.07% from the stock’s previous close.

DHT has been the topic of a number of other research reports. Morgan Stanley boosted their target price on DHT from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, July 18th. ValuEngine raised DHT from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Zacks Investment Research raised DHT from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Thursday, July 19th. Pareto Securities lowered DHT from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Wells Fargo & Co dropped their target price on DHT from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 14th. Nine research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $6.17.

NYSE DHT traded down $0.14 on Friday, reaching $5.07. The stock had a trading volume of 815,052 shares, compared to its average volume of 1,315,749. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 1.01. DHT has a 12-month low of $3.27 and a 12-month high of $5.60. The stock has a market cap of $752.32 million, a P/E ratio of 39.00 and a beta of 0.25.

DHT (NYSE:DHT) last issued its quarterly earnings data on Thursday, November 1st. The shipping company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The firm 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%. DHT’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. As a group, research analysts predict that DHT will post -0.23 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of DHT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in DHT during the second quarter worth $105,000. Bienville Capital Management LLC boosted its position in DHT by 666.4% during the second quarter. Bienville Capital Management LLC now owns 315,314 shares of the shipping company’s stock worth $1,479,000 after purchasing an additional 274,171 shares in the last quarter. BlackRock Inc. boosted its position in DHT by 14.0% during the second quarter. BlackRock Inc. now owns 4,598,101 shares of the shipping company’s stock worth $21,565,000 after purchasing an additional 565,749 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in 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, FMR LLC purchased a new stake in DHT during the second quarter worth $1,197,000. Institutional investors own 40.00% 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.

See Also: Buyback

Analyst Recommendations for DHT (NYSE:DHT)

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