|Bid||0.00 x 42300|
|Ask||0.00 x 3200|
|Day's Range||4.72 - 4.99|
|52 Week Range||3.27 - 4.99|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 6, 2018 - Aug 10, 2018|
|Forward Dividend & Yield||0.08 (1.69%)|
|1y Target Est||5.21|
OPEC meetings usually have an effect on oil tanker stocks. This leaves room for other OPEC countries to compensate for the shortfall, making it unlikely the low oil prices seen in 2016 will return. Freight rates fell by 65% in 2017, which decimated tanker stocks.
Wells Fargo’s analyst Michael Webber upgraded three crude tanker stocks and revised their target prices. According to Wells Fargo, the tanker market is uniquely positioned to take advantage of the likely increase in oil production.
The tanker group as a whole is "uniquely positioned" to take advantage of a likely increase in oil production and potentially significant IMO 2020 tailwinds, according to Wells Fargo. The Analyst ...
HAMILTON, BERMUDA, June 18, 2018- DHT Holdings, Inc. announced the results of its 2018 Annual Meeting of Shareholders. The Annual Meeting was held on Thursday, June 14, 2018. At the Annual Meeting, the ...
Four stocks have been lined up for review, and they are: DHT Holdings Inc. (NYSE: DHT), Diana Containerships Inc. (NASDAQ: DCIX), Diana Shipping Inc. (NYSE: DSX), and DryShips Inc. (NASDAQ: DRYS). Hamilton, Bermuda headquartered DHT Holdings Inc.’s stock finished Wednesday’s session 0.48% higher at $4.17 with a total trading volume of 487,346 shares.
DHT Holdings, Inc. (DHT) ("DHT" or the "Company") today announced that Eirik Ubøe, Chief Financial Officer, is leaving the Company after 13 years of service. Eirik has been a valuable member of our team and we wish him every success in his future endeavors." said Co-Chief Executive Officers Trygve P. Munthe and Svein Moxnes Harfjeld in a joint statement. Ms. Halvorsen will serve as Chief Financial Officer effective immediately.
According to Reuters, the consensus rating for Nordic American Tankers (NAT) is 3.3, which means a “hold.” Teekay Tankers (TNK) also has a consensus “hold” rating, while Gener8 Maritime (GNRT) has consensus “buy” rating.
Tsakos Energy Navigation (TNP) is expected to release its first-quarter results on June 15. It’s one of the last companies among its peers to release its first-quarter earnings.
Crude tanker rates struggled in 2017. The rates have continued to decline in 2018. Crude tanker rates have been impacted by supply and demand concerns. The primary reasons behind the fall are OPEC’s oil production cuts, low cargo demand, and high fleet growth. The Middle East countries, especially Saudi Arabia and Angola—OPEC’s largest African producer, have reduced their oil production more than the pre-decided output cut. The compliance to production cuts has been more than 100%, which caused cargoes to decline from the Middle East.
The company achieved a spot TCE (time charter equivalent) of $14,99 per day for VLCCs (very large crude carriers). Teekay Tankers’ (TNK) first-quarter revenue was $88.4 million—12% lower year-over-year. In the first quarter, Frontline took delivery of three newbuilds—one VLCC and two LR2 tankers.
When assessing the crude tanker industry, it’s important to look at the BDTI (Baltic Dirty Tanker Index). In week 21, which ended on May 25, the BDTI rose from 714 to 781. In week 20, the index rose by 57 points. The index shows the direction that crude tanker rates are heading. The index has risen ~12% since the beginning of the year.
Wall Street analysts estimate net revenues of $85.2 million for Frontline (FRO) in the first quarter. A sequential fall from $178.5 million in the previous quarter and a 30% fall from $121.9 million in the first quarter of 2017.
According to Weber’s weekly report, fresh appearances on the Middle East position list saw the May surplus rise to a fresh multiyear high. As a result, the rates fell at the beginning of the week 20. However, the rates rebounded modestly later in the week.
DHT Holdings, Inc. (DHT) ("DHT") announced that, in connection with the cumulative effect of the previously announced (i) cash dividend of $0.02 per share of common stock paid on February 28, 2018 to stockholders of record as of the close of business on February 20, 2018 and (ii) cash dividend of $0.02 per share of common stock to be paid on May 30, 2018 to stockholders of record as of the close of business on May 21, 2018, the Conversion Price of the Company's 4.5% Convertible Senior Notes due 2019 (the "Notes") was adjusted, effective May 18, 2018. The Conversion Price was adjusted from $6.3282 per share to $6.2599, which represents a Conversion Rate of approximately 159.7470 shares of common stock per $1,000 principal amount of Notes. A detailed calculation of the adjustment to the Conversion Price can be found in the "Investor Relations" section of our website www.dhtankers.com.
In April 2018, China’s manufacturing PMI was 51.4. In March, it was 51.5. That indicates that growth in China’s manufacturing sector eased only slightly. The index remained above 50 for the 20th consecutive month. A reading above 50 indicates economic expansion, while a reading below 50 indicates economic contraction.
In this final part of the series, we’ll discuss analysts’ recommendations for crude tanker companies in week 19, which ended on May 11.
LONDON, UK / ACCESSWIRE / May 15, 2018 / If you want access to our free research report on Seaspan Corp. (NYSE: SSW), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SSW as the Company's latest news hit the wire. On May 11, 2018, the Company, which is a worldwide leader in independent containership management and ownership, declared that it has accepted the delivery of CMA CGM Cochin. Active-Investors.com is currently working on the research report for DHT Holdings, Inc. (NYSE: DHT), which also belongs to the Services sector as the Company Seaspan.
Stock Research Monitor: CPLP, CMRE, and DHT LONDON, UK / ACCESSWIRE / May 14, 2018 / If you want a free Stock Review on DCIX sign up now at www.wallstequities.com/registration . In today's pre-market research, ...
According to Weber’s weekly report, higher bunker prices and a modest improvement in demand saw small gains in VLCC rates. In the Middle East market, VLCC fixture activity was 22 in week 18 (week ending May 4)—compared to 28 fixtures the previous week. The demand in the Atlantic Americas was stronger and rose to nine fixtures from four the previous week. VLCC fixtures in West Africa remain unchanged from the previous week.
When assessing the crude tanker industry, it’s important to look at the BDTI (Baltic Dirty Tanker Index). In week 18, which ended on May 4, the BDTI fell from 655 to 650. In week 17, the index rose by 18 points. The index shows the direction that crude tanker rates are heading. The index has fallen ~6% since the beginning of 2018.
We already looked at what Wall Street analysts expect for DHT Holdings’ revenue and EBITDA (earnings before interest, tax, depreciation, and amortization). Now, we’ll look at what analysts recommend for DHT Holdings and its peers.
As we saw in the previous part of this series, Wall Street analysts expect DHT Holdings’ 1Q18 revenue to fall 31.3% YoY (year-over-year). In this part, we’ll see what analysts expect for DHT Holdings’ EBITDA (earnings before interest, tax, depreciation, and amortization) for 1Q18 and 2018.
As we discussed in Market Realist’s weekly crude tanker series throughout the quarter, VLCC and Suezmax rates were pretty low in 1Q18. Crude tanker companies with high exposure to the spot market will likely see their 1Q18 revenues fall. DHT Holdings has ~73% of its fleet in the spot market. As a result, DHT Holdings’ 1Q18 revenue will likely fall.